Will the right hand side of tool in this picture function to release a Panerai Luminor quick strap system (the button thing on back of case/lugs) ? http://www.panatime.com/springbartool.html
For watches with drilled lugs, this tool enables you to compress the spring bar through the hole in the lug. The opposite end is designed for compressing the spring bar when between the lugs.
That metallic tool can scratch the watch, you be better of with something made out of plastic or wood. A toothpick or some plastic needle works just fine. I use metal tools on my watches only as a last resort.