No. I'm not so sure about BbS because I really just rushed that game, but in KH2 it saved you from fatal combos. Like, you wouldn't die as long as you had at least 2HP when receiving the first hit of a combo or multi-hit attack.
Here, it only works for one attack, so if you get entangled in a combo on high difficulties, it's over.
But anyway, after what seemed to be tenth or fifteenth attempt, I beat the guy and destoyed the poor bloke that came after, so I finished the game! Currently watching the ending.
Very enjoyable ride all over!