Sounds like it is the "automatic reset circuit breaker". It provides overcurrent protection for the slide out motor circuit that is fed directly from the battery. Corroded connections could be a problem, or the breaker could be weak. I would just clean up the connections for a start. Also, make sure the slide out mechanism is properly lubricated.
Is it needed? Yes and No. It is needed to protect the circuit from over current and resulting overheating, and all that implies. On the other hand, if you are standing right there, and jump it out in an emergency to get the slide to move, nothing bad will happen in the short term, if you pay attention to any signs of overheating or labouring by the motor. Not something you should do routinely though.
I don't think they are expensive, it might be a good idea to pick up a spare to have on hand just in case.
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