The torque converter has a clutch inside that, when applied, "Locks" the torque converter. When the torque converter is Locked, The Transmission input shaft is locked to the TC housing. This gives better economy, and Makes less heat in the transmission fluid. The downside, is if you stop your vehicle with the TC locked, it will stall the engine as well(if your brakes are good enough to do it. ) The trucks computer generally will take care of this lockup function for you, but some folks want more control over thier truck's operation, Thus the "Mystery switch" . It can be used to lock up the TC when the Computer says it should not be(I. E. in second gear, When engine braking) a switch can also be devised to prevent lockup. Also, several vendors offer "Boxes" that allow you to program when you want Lockup to happen. These cost considerably more than the Switch, but are pretty handy If you don't want to flip a switch everytime you want to stop or take off.
I hope this helps your understanding, P.