I don't recall that you can actually set one of the buttons for high/low power in RSS. TX Power is set by mode, so what you have to do is create a mode for high power operation, and another for low power operation. The drawback to this is that you use two modes for one channel, one being high power, the other being low power.
An alternative is to use the direct feature. You could program a mode with a repeater pair, for example, then set the talk around mode for the same repeater pair, except set the tx power for low power in the "direct" mode. The disadvantage of this approach is that you wouldn't have a real direct, or talk-around, mode. Just a mode that has two power levels, and then the direct button would, in effect, be operating as a power switch.
You could then set the direct button function to the button actually labeled H/L.