No! This is not your typical seatpost quick release.  

In fact it's much more anti-theft than the little nut and bolt you put on there in place of the q/r that the bike came with.  AND it's even more secure than the thing that you guys do with an old scrap of chain and innertube (besides being way less clunky looking). 

This works just like its Zefal Lock and Roll wheel skewer counterpart--which is hard to understand but somehow works great--when the bike is upright the lever stays put and won't release.  But turn the bike over and the lever works like a normal q/r again.