Hi Rick,
In the event of an electrical issue or voltage loss the valve will not allow the brake to engage and will allow you to continue driving.
In the event of a hydraulic loss, as long as the leak is not at the brake itself or in the metal line between the valve and the brake it would prevent a lock up. If the leak is at the brake itself, the brake needs to be replaced anyways and the likelihood of a leak at that metal line is very low.