Sort of. You push down to expose the metal centerpiece which fits through the bit/disc/drum. While holding it down you turn the mandrel to hold the bit and let the piece snap back up to lock the drum down. Not bad once you get the hang of it.
Normal Dremel tool mandrel size. ! thnk 1/8" diameter
if it has an 1/8 inch collet
try to order online and have it sent to the store of your choice