You do realize it's serious issue in the region when the world's superpower that is known with coups in the region is threatening you your neighbor with force? For people living there, including the politicians, it's not just another news. Sounds more than reasonable excuse to cancel the meeting.
Finally, the stated reason for cancellation was that the Brazilian FM did not want to sit in the same table with the Venezuelans. Not any interesting new developments regarding Venezuela.
Respectfully, you’re projecting your own view of the situation onto Brazil. Violent conflict isn’t an unknown thing in the region and Brazil is solidly on the anti-Maduro side.