Cards are not replaced during the "as played" window. The cancelation must be played immediately: no other effects can be used, except for wakes (eg. neither The Barrens nor Dreams of the Sphinx can be used).
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Devil-Channel: Throat
Cancel a frenzy card played on this vampire as it is played.
Frenzy (played on this acting vampire). Only usable when a non-werewolf ally or younger vampire attempts to block. That minion's blocking attempt fails (do not lock that minion). That minion cannot attempt to block this action again.
As above, but lock that blocking minion.
Rulings
If the canceled card had a "do not replace until" clause (or alternate replacement like Steely Tenacity), that clause is canceled as well and the card is replaced normally.
The canceled card has still been played. The same reaction or modifier cannot be played again by the same minion. Any card which text prohibits to play more than once cannot be played again.
If a limited effect is canceled (bleed, additional strike), then the limit is not triggered and another limited effect can be used.
A card played "as if from hand" can be canceled "as played"
Any frenzy card that targets/selects/chooses/affects the minion when played, is considered being played on the minion.
The cost for a canceled non-action-card is still paid, including additional and alternative cost (e.g. to play Eagle's Sight to block a Wraith or zombie while Parijat, the Dark Oracle is ready the top card of the Library must be burned, even if Eagle's Sight was canceled)