Does Upgrading Laboratory Cancel Troop Upgrade?

Yes, the spell will stop upgrading. That just happened to me with my lvl 3 dragon. It will resume upgrading when the upgrade of your laboratory is finished.

Does upgrading your lab cancel your upgrade?

It is possible to upgrade the Laboratory itself while an upgrade is happening, but the upgrade will not continue while the lab is upgrading, and they will never be applied until the building upgrade concludes. However, you cannot start new research projects if the building is upgrading.

Can you cancel lab upgrades COC?

Whenever you cancel an upgrade, you will only be refunded half of the cost. Once an upgrade has been canceled, there is no way to undo the cancellation.