This is a potentially dangerous tactic, but yields great results. The high bounce of the grenade during the explosion works very nicely as an anti-personnel tactic.
Aim directly one space in the direction you want the grenade to go with a Terrain Fire (orange line) order.
Head for cover - follow up your Short Bounce by ducking all nearby units around a building corner, into a room, away from windows, running quickly in the opposite direction, etc.
Test your orders - several times.
This anti-personnel tactic is risky and inaccurate but works well against:
Grouped Marines charging down a small area
Spawn rushing your position
Clearing a room while continuing down the intended path
Denial of area for self-defense of a Grenadier
Sacrifice of Grenadier with overwhelming enemies attacking
'I agree. Nuke the site from orbit... it's the only way to be sure' - Cpl Hicks, Aliens