The description above is pretty spot-on. Any sudden increase in flow as a result of a burst/failed line downstream will cause the fuse to close thus preserving some/most of the system fluid.
The 737-3/4/500 has fuse's in the brake system, L/E flap/slat extend/retract lines, nose gear extend/retract lines and also in the thrust reverser pressure and return lines.
It is possible to inadvertently trip the thrust reverser fuses by cycling the reversers too quickly i.e repeatedly deploying and re-stowing as sometimes happens during system function checks in maintenance. The MM recommends a minimum of 10 sec's between cycles.
The 737 fuses are generally about the size of 2 "D" cell batteries and sometimes have a check valve as part of the union on one end.
Rgds, Eng