Yeah, good idea but only if we make it realistic, modeled on the real world (as you asked): if you are under attack and press the SOS button, your friend at 3 AU will receive it 24 minutes later or so. 
What do you do when you hear a car alarm?
That’s right, you ignore the annoying noise…
Type “help” in local. How hard is that?
Invite someone to fleet and they can warp to you.
You’re thinking way too much
The OP still did not explain how people will jump to him if he has no CYNO. I bet he want people to be able to just magically appear when they respond to the SOS button. Can you imagine how that will break the game lol.
I don’t even understand the point of this.
Invite people to a fleet and just use “Warp to Fleet Member”. We don’t need an “SOS” button, there’s no point.
If OP wants to simulate that, he can go light a Cyno in an industrial ship and see what happens. Spoilers: it’ll be either (1) someone warps to him and kills him or (2) no one cares.
Why would anyone even use this?
Local support would be enough for any player, I have stated this before. I personally would extend it to an entire region. In this case for the sake of territorial defense, but this implies the involvement of all corporations in the defense of the common domain of dominance. I think it is more complex and I still don’t know what impact it would have on the game as a whole, I am sensible about it. I just don’t understand why so much shouting because of a “suggestion”. What is it, a dictatorship?
It’s because the idea is a bit game breaking if you introduce a mechanism that let’s you jump across a region. You did not really think this trough.
Absolutley!
And in fairness, you haven’t built a very convincing case for the “dictator” here to commit their time and resources to a feature that is already addressed with the existing comms functions.
Definitely not, do not jump between regions, that completely escapes the purpose of the game. In this sense, I fully agree, which suggested that the location (precise destination) and other information be sent also to members of the breed not only in the local system, but in the entire region. But seeing the revolt that the mere discussion of the subject causes, it now seems forced.
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As for the suggestion to use “chat” or form a fleet, it makes the discussion similar to the battle “command line (linux)” versus "graphical interface (windows). Both are excellent and can coexist. I like the criticism, it it makes it grow, as long as it is accompanied by rationality, arguments, justifications. Why would it be bad? What would be the practical case? Can colleagues who are against it demonstrate?
I think colleagues may find that this discussion is more relevant than it seems.
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I wouldn’t mind an SOS button that just puts something in the overview or somewhere less bothersome maybe that shows the ship type that anybody in system can warp to. This would probably mostly be used for bait but in think it would be a good addition to pvp.
You never not take the bait. 
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I thought about the possibility of fake calling too. So I think the SOS button should only be enabled when the ship is under attack. Thus, when sending the distress signal, information about the aggressor would also be sent, such as type and size of the ship, type of weapon used, in addition to the precise location with a pin. This would lessen the risk of falling into a trap, but this will always be with this type of risk, I think.
Personally, as I put it, I would accept the risk.
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This whole train of thought is FAIL. No matter what you add to the game, no matter how you twist and distort the mechanics, the PvP players will always figure out how to beat the lazy carebear PvE players. It has to do with the PvP players being actively engaged in the game, learning and experimenting, versus the PvE players trying to optimize their gameplay around minimizing their interaction with the game.
An SOS button would be useless. At best, gankers might use it to give a warp-in beacon for their gank fleets - but with the recent changes to bookmarks, that isn’t even necessary. If you are being ganked in highsec then you have a few seconds left to live. No white knight heros will be able to come out of warp before your ship is destroyed. If you are a war target . . . maybe (?) there is some use for this, but I really doubt it.
The only time the SOS button might be interesting is if you are being overcome by NPCs. However, I think most of the people that respond to your call for help will not be there to save you.
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To think that way I would need to believe that most players are bloodthirsty egocentric mercenaries. If that were the case, it would be doomed to failure. For the time you have, I see the opposite proven.
About being saved, you are certainly right, there would be no time, but who spoke of salvation? The idea is a much larger dynamic, which involves risk / consequence.
I explain: A player is being attacked by another (PvP) with a much higher ship, there will only be time to activate the SOS before his ship is destroyed, in case any resource prevents him from jumping. The attacker knows this and knows that he may be surprised by another player or even a fleet in response to the SOS to destroy him. He will not persist in the stakeout waiting for other players. So any attack, even in a low security zone, could, but not necessarily, result in retaliation. The attacker will need to think better before attacking any other player. See? I didn’t use a PvE example, nor did I think about it since it’s relatively easy to win or run away in PvE.
Now, the button could have a security zone limitation to be used, I’m not sure how it could be, but this idea remains.
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Hey look, that blinged out carebear is in distress, low on EHP and under heavy fire!
LET US HELP HIM OVERCOME THE SITUATION SO HE DOES NOT LOSE HIS SHIP!
<suddenly laughter everywhere>
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I am absolutely sure the CODE. will gladly go to his/her aid in such a situation.
Hey, might be content. This said the OP does have a point and maybe something to look at in regards to new player retention
Just no, you already have local, corp chat, the option to fleet up with corpies, probably discord as well. What more do you want? Really this has no legs at all.
Do you really think that limiting keyboard usability is good? We already have computers with vocal commands, gestures and holography. Have you ever imagined what the game will be like, because it is inevitable, due to these new technologies? I did not intend to go into that merit in this topic, but think about it! We are in the age of virtual assistants (AI). “Hey Cortana, send a distress signal!” In addition, where is the accessibility for people with disabilities?
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If you think so, then explain in detail how you believe it would help new player retention when you shield them from the very dangers that make this game less boring than the others. Silly ideas like this one just attract even more ten plys, of which we apparently already have enough.
An SOS button also creates an environment where you even less need to care about your actions. Even IF people would jump in to save whoever presses it, which is a really big IF, have you considered that the person might not deserve being saved? And what about gank squads to use it to attract idiots who come for “saving”? What will happen next is that carebears, abusing the new player argument yet again, will claim it hurts retention etc etc and people are quitting the game because gankers can “abuse” the mechanic, etc. etc. Always the same embarrassing ideas, by the same kind of embarrassing people.