I've had a Kaoko since 13. Use it on really long days traveling only.
Never had to push the panic button your describing but would say a handful of brakes and clutch would be fine to make a bad deal into a near miss.
The Kaoko, although a fine quality lock, has to be turned off to release. There is no quick grab release.
I'd also say you can easily roll the throttle off when it's locked.
J