My suggestion above doesn't work because EditMode returns True for every row, including new rows, in the BeforeShowRow event!
Here's another approach that does work.
Make sure that the grid's datasource includes the primary key or some other field that t will definitiely have a value for all existing rows.
In the BeforeShowRow event you just have to check whether this field has a value. If it's blank, then you are on one of the New Rows.
The code I've just used successfully is
if Sender.Recordset.fields("Record_ID") = "" THen Sender.Label1.value = "New Record"
where Record_ID is your table's primary key (or other non-nullable column you choose to use). This sets the value of a label, but if you want to set HTML values then attributes are generally better (e.g. you can use an attribute more than once)