Y-knot has a point about overriding a system that provides safety measures but in the case of OD and TC control, I don't think DC did a good job on the PCM for the 47RH transmission. It shifts into OD and locks up the TC at much too low speed and, when towing a load, this can be real tough on everything.
I have used the "mystery switch" for a long time and have learned some things to do and not to do with it.
It's most valuable function is to keep the TC locked up for exhaust brake application.
I also use it to keep the TC unlocked to stay out of trouble caused by early shifting.
Before I head out with the trailer next spring, my little black box will be set up to lock out OD when the truck starts and won't allow OD or TC engagement until the truck reaches the speed I set into it. After that it will operate normally.