I came across some new information which helps to confirm which of the 2 Kelly parents are the family of Margaret Kelly. It is not conclusive but makes it very likely

I found an entry for a Kelly child on the Mormon LDS site

A William Kelly of Ballawillyn, East Baldwin, born 1818 Braddan his parents are William Kelly and Jane Cannell.

In the 1841 census Margaret Kelly (Quine) is living on this same farm

Source information: 1841 Census June 7th
Ballawillin, Braddan 1841 (between other households labelled Ballachrink)
John Quine 47 Tailor
Margaret (kelly) Quine 40
Margaret Quine 20
John Quine 16 app. shoemaker
Robert Kelly 9 appears after 2 dashes in the margin, but not before the next address ditto, so he seems to be included in this household.

Ballawyllyn [].

1643- 1703 Man.Roll. Ballawillin wollen,-wallen).

Mx. Bailey wyllin, ‘mill farm.’
On a level with St Lukes Church near or next to the river Baldwin below Arderry

Manorial Roll 1511 Braddan
Treen of Balna Regnilt.—Ballawyllyn, 1 q. Ballagary, 1q. Creg a Cowne, 1q. Naryween, 1 q.

The Kelly family I had listed was

A) One of two potential parents of Margaret Kelly who married John of 1793
William Kelly (Kelley) born before 1769
Married 25th November 1784 in Braddan
Jane Creer born before 1769
Children
Catherine Kelly, Christened 1/4/1792 Braddan
Jane Kelly, Christened 23/2/1794 Braddan
William Kelly, Christened 4/9/1795 Braddan (married Jane Cannel in 1818 and died 26/11/1849)
*Margaret Kelly, Christened 24/7/1796 Braddan (married John Quine)
Isabelle Kelly, Christened 12/4/1801 (married Joseph Kneale) died 8 Dec, 1843

The Jane Cannel and William Kelly child make it look like the right family.

All thanks to your census information.