No, having nothing to do if you have a brake problem. More-so if you are having a rapid air loss problem. This button does one thing only, it prevents the spring parking brake from setting when the truck air pressure is bleeding down. It takes a very good understanding of that single sentence to know if you want to use that button or not. Here are two examples, one has dire consequences and one does not:
1. Driving truck at my dad's farm on flat ground, truck suddenly losing air quickly, don't want the spring parking brake to set and lock the truck in place, as would normally happen. Want to be able to push it with dad's tractor into the barn to fix the air leak. Then activate this button while truck air pressure is still over 60psi. Once air pressure gone, spring park brakes will not be set, and truck will easily roll. This is effectively the same as "caging" the brakes, but without having to climb under and do so.
2. Driving down the road in traffic, sudden loss of truck air pressure. Normally, as the truck air pressure is falling, once dropping below 60psi, the spring parking brakes will automatically come on and bring the truck to a stop, having nothing to do with the foot pedal brake. If you activate this button during this time, the automatic spring parking brake will not set, and as the air pressure continues to drop, your service (foot pedal) brake effectiveness will diminish quickly. You now have an unstoppable rolling 20,000lb all metal 10' tall vehicle, in traffic. Very bad. You have deactivated the "emergency" brake portion of this system which would normally slow this vehicle in a gradual yet steadily increasing manner.
I really suggest to simply leave this button alone, in the normal position, unless 100% understood what it does, and therefore when to use it. I believe it is only present on mil air brake vehicles, to "get away" when needed, even if the vehicle is losing air pressure, or if the vehicle needs to be towed by something that does not have an air system on it. It has nothing to do with the park brake dash button you see on conventional civilian 18 wheel tractor trucks. It is simply a spring brake disable button. That's why it says spring brake over-ride. Can be convenience, or disaster. One of the most mis-understood parts of these vehicles. If it said "parking and emergency brake disable", it would probably be better understood.