That may be the reset button for the Mopar alarm system that can be added to our Jeeps. I added one and stashed that switch in the fuse panel. IIRC, the alarm module connects between the Jeep and the steering column. You may also have a red LED somewhere that flashes if the alarm has been activated. The alarm I put in from Mopar, senses movement of the car, so to see if you have that alarm, lock it, then tap the body panels (don't dent them) and see if the horn chirps. Hard enough of a hit and the alarm will go off. That button resets the system and is also used when programming the alarm. Similar to this:
http://www.ebay.com/itm/like/2915901997 ... noapp=trueThe button in mine is not red through, it's black. Hope this helps!