Yes, the box won't shift down unless it can actually shift down.
So no over-rev possible.
Also if you're hitting the rev limiter (too long) it will upshift.
But still, you can shift down and use it for slowing down.
It's not as much as with a manual but it's usefull in traffic or something. I do it often for not using my brakes on my daily drive to/from work in heavy traffic.
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