I don't think there is any nice way to cancel a timer, or during a long exposure (if you accidentally have in M mode with 30" exposure set or something). The only way is to turn camera off, then back on. And even then some process might continue (like dark frame NR, next bracketed shot, Im not exactly sure).
I don't know if turning camera off during such a process can ever cause damage, but it definitely doesn't feel nice. And it still takes some time, of course. Sorry about your missed shot, hope you get another chance. I think your camera has user modes, where you can pre-set a "fast photo of opportunity" mode, which has disabled timer, bracketing, and other slow things. I think some photographers already use their user/custom modes in that way
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