The breakaway system only comes into play if you completely lose the trailer. When that happens, the cable pulls the clip out of the little black box attached to your drawbar, locking the brakes on full, and keeping them locked. Their supposed to keep them looked for a minimum time (15mins I think, or until you put the clip back in).
You don't want your brakes to lock on in the case of a hitch failure when the chains are still attached. At speed, that could turn very nasty, very quickly.
Any trailer over 2 ton I think is required to have a breakaway system.
Because that breakaway cable is quite long, just keep in mind when you hook up, to make sure it cant drag on the road.
In case your not aware, the control box has a battery in it, their should be a test button on there to check battery condition. Had to put a new battery in one of ours recently, cost about $20.