NSEU,
One the 767 it does indeed control the aileron lockout.
On the 757 it controls the elevator assymetry actuator. This is also airspeed dependant rather like the aileron lockout.
Both terminologies are correct it just depends what a/c they are fitted to!!
PS. I am an engineer (and the term is from the AMM) and reverted to type in that I gave it the name I first heard as the 757 was the first of the 2 on my licence.