If the red key can be pulled out of the switch it'd off (disconnected), if the key won't pull out it's on (connected). The factory installed switch is a PARTIAL disconnect switch. It does not completely disconnect the batteries. There will still be parasitic drains that will run down the batteries in a week or so.
The only way to totally disconnect the batteries is to physically disconnect the negative battery cable or add a disconnect switch on the negative side between the battery and battery cable.
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Marshall
2012 Laredo 303 TG
2010 F250 LT Super Cab, long bed, 4X4, 6.4 Turbo Diesel
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