the expression "Toledo Panic Button" does not have any widely known or established meaning in real-world contexts or popular culture. It's possible that something new has emerged , but as of that time, there was no widely recognized reference or significance for the term.
If you encountered the term in a movie, it's likely a fictional creation for that specific film. If you could provide more context or information about where you came across the term, I might be able to offer further insights. But based on the information available , the "Toledo Panic Button" doesn't appear to be a real thing outside of fictional contexts.