Can this dressing stick be use on a taurus 3 ring saw blade ? Will it help the blade last longer ?

Not really. The Taurus 3 blades are all electroplated blades which means they have a single layer of diamond bonded to a metal ring with nickel. Once that single layer is worn down there is nothing beneath it. You can use a dressing stick on electroplated tools and it will make them slightly more aggressive for a very short period but it will also significanly reduce the lifespan of the blade. It can be used as a good stop-gap measure while waiting on a new blade to arrive though.