I always opposed women only events, and I think these grants are also horrible.
Maybe it is an USA problem, but I worked in various industries (games, banking, insurance, B2B, B2C) all over Europe and never saw much discrimination against women (not saying didn't happen). Sure the ratios are skewed, but everywhere I worked, I worked with women, some in software development, some artists, some managers.
People want to have reasons why women are outnumbered in CS, but I truly believe that many women don't like CS (whether by biological or social pressures). When I was in university, my course (math and computer science) had a 50:50 ratio. By the last year, I say more than half switched to more 'social' courses. None I interacted with stated they were discriminated, most just said they didn't want to spend so much time in front of a computer and preferred more 'social' work. Heck, in the last year of highschool here you have to decide what uni/course you apply, except two girls from many I was friends with wanted to get a CS degree, opposed to many of the guys.
Another point. My wife loves math and chemistry and puzzle solving. She sees me programming and more than once asked me to teach her. I'm more than happy to do it, but as soon as she has to spend a lot of time in front of a computer she gives up. She's smart (probably more than me) but she just doesn't want to do such a solitary activity.
It can be social pressures since they are children to focus on more girly things, and I believe we should focus on that, but focusing the problem on adult women with these kind on initiatives is wrong. By the same token, I'm pretty sure Portuguese white males are underrepresented in Hacker School. Should I get a grant as well? What about Jamaican programmers?