Using pulsed EPR techniques, the low temperature magnetic properties of the NO radical being confined in two different modified open C60-derived cages are determined. It is found that the smallest principal g value g3, being assigned to the axis of the radical, deviates strongly from the free electron value. This behaviour results from partial compensation of the spin and orbital contributions to the g3 value. The measured g3 values in the range of 0.7 yield information about the deviation 5 of the locking potential for the encaged NO from axial symmetry. The estimated 17 meV asymmetry is quite small compared to the situation found for the same radical in polycrystalline or amorphous matrices ranging from 300 to 500 meV. The analysis of the temperature dependence of spin relaxation times resulted in an activation temperature of about 3 K, assigned to temperature activated motion of the NO within the modified open C60 derived cages with coupled rotational and translational degrees of freedom in a complicated 3-dimensional locking potential.