Sid - I initially thought that was a typo then realised it was a very good pun.
Stainless, Sid
The primary chute release will be a boot (trunk) release solenoid activated by a little red button on the instrument pod - two in fact, one for the left hand and one for the right - that would allow a lefty to have a drive. These can be triggered with hands on the wheel. I have an isolation switch on the 'dash' which arms that circuit once in and belted as part of the startup routine.
The ejeculate handle was a humourous (?) item sourced from a 1970's jet (still in its original Martin Baker packaging) for the required mechanical backup, and especially if ones hands are not in the straight ahead it will be an omg moment anyway so reaching between your legs will be natural.
I had not considered that someone might 'catch' this when cinching the belts up and need to explore further. I am assuming the chute end of the vehicle will have a pre-flight pin - I guess the crew show that to the driver before closing the canopy so maybe thats the security step, engage that in such a way that the chute release cable can't be withdrawn with that pin in so the chute cover stays in place regardless.