It will protect a certain amount.
I was using my Spyderco Urban (slip-joint with choil...I'm calling it a finger choil; deal with it

), when moving to the new apartment. I was cutting lots of thick cardboard for hours and hours, as I had to heavily reinforce boxes for my literally tonnes of books.
I ended up having the situation happen where negative forces were applied to the blade (just try cutting for hours on end without having ANY mistakes), and the blade was kept from closing due to my finger being in the choil.
Of course, my finger was
right in the choil area, as that's the most comfortable way to use that knife.
Now sure, it wasn't hundreds of pounds of pressure, but most times people experience lock failures it isn't due to hundreds of pounds of pressure.
The choil worked just fine, and my finger got no cut at all; the blade barely was able to close much at all. :thumbup:
Take a look at the huge choil on the Tuff or SmF...that would sure work for finger protection.