Though it is not intuitive, I believe that the user can disable the template picker by clicking on the "feature" again...essentially, think of it as a "toggle" button.
With that said, I have not found a way to "escape" once a user has started drawing a feature on the map. For example using the the "esc" button or right click and cancel the sketch. I would assume that we as developers would have to "plug" in all this plumbing to allow the user to terminate drawing a graphic prior to finishing drawing a graphic on the map - "double-click".