Rust is the interaction of oxygen and metal, usually iron. The water vapors that evaporate from the food contain oxygen; when the vapors are trapped in grease pockets, or under a layer of grease, they quickly eat at the iron in the steel vent. Paint is applied to the vent when it is new to delay this, but eventually the actions of the moisture, grease and food acids overcome the paint.
Wash the affected area with dish detergent and water and let dry. The detergent is specially formulated to remove food grease, and it will leave you with a clean working surface. Put on safety goggles and a breathing mask before beginning to work.
Dip the steel wool into vinegar and gently rub the rust. It should begin to come off immediately. A heavily rusted area may require more vigorous rubbing, but be careful you do not press so hard that you remove the good metal under the rust. Continue to dip and rub until the area is rust free. If the rust is higher than you can reach, then hold the steel wool in kitchen tongs or something similar.
Wash the area again with soap and water and dry it immediately so that no rust can begin to take hold on the bare metal. Paint the metal with a rust-preventing primer. When dry, paint over it with a color matching the rest of the vent. Because of the wide spray of a spray paint can and the small nature of kitchens, it is best to use a brush for the primer and paint.