I tried it, and it did work with the momentary switch, but weirdly the change didn't show until I close the app and re-opened it. Not sure what that's about.
In any case, if you want to use a binary switch, that can also work.
After you have it set up so that the mode change is tied to the switch, you will need to set up one More smart lighting automation so that the virtual switch always turns itself off after one minute. That way it will be ready to use again the next time.
You can use the power allowance feature in smart lighting to do this.
Choose smart lighting, and then a new automation.
Select the virtual switch as the "light" that you want to control.
Say that you want to turn it off.
For the trigger condition, choose "power allowance" from the multiple-choice list, and then set the amount of time to one minute.
Save that, and every time the switch is turned on, it will automatically turn itself off after one minute.
Turning the switch off will not do anything to the mode if you haven't set it up to do that.