Fixed.
This confirms authenticity of electric lockout / valet mode / whatever you call it. 100% real.

Crawled back there.
Removed rear cover via 7 screws.
Easily saw how to pop latch w cable.
Upon removing cover, looked for wire that aligned with key lock, disconnected that wire via simple harness clip.
Lock easily turned.
Test manual latch without electric clip connected. Locked and unclocked via key without a problem.

FYI,
Used very small and thin ice pick / knife to get covers off of screws. Used only a phillips BIT, not an entire screw driver, to unscrew the 7 screws, to avoid space issues with the underside of the hatch.

Keywords...
lockout
antitheft anti theft deterrent
hatch
rear hatch lock locked

Gonna link this post also

http://www.toyota-supra.info/forums/...questions.html

oh the trunk woes.. been there. :(