The Panic Button "super" power is currently exclusive only to the Gold VIP Prep Recipe "Gold Flake Cupcake." (Dinah)
When equipped and used, it not only makes the VIP Dinah appear, but also provides a Panic Button in any episode it's used, which "slows time" down for 10 seconds - allowing Flo to get some dishes made and served during particularly overwhelming customer rush moments.
Note: There is more information behind every Prep Recipe by tapping the (?) on any Prep Recipe card in your Prep Kitchen. This displays every Gold VIP character's "super" powers!