A system and method are provided for failsafe storage and dispensing of a liquid material from a container having a storage compartment. A dispensing control unit coupled to the container includes a control valve portion operable to selectively direct a flow path of at least a portion of a pressurized fluid stream received thereby, and a response valve portion coupled to the neck portion. The response valve portion is reconfigurable between first and second states responsive to the pressurized fluid stream as directed thereto. The response valve portion in the first state seals an access opening of the container from the storage compartment, while in the second state maintains the access opening in communication with the storage compartment. The response valve portion is resiliently biased to its first state, whereby release of the liquid material therethrough is prevented in the absence of suitable fluid pressure actuation therefor. The response valve portion in certain embodiments includes a displaceable piston assembly, and in certain other embodiments a deflectable member, for selective reconfiguration between the first and second states responsive to the pressurized fluid stream.