Don?t get hung up on the values of voltage to neutral. That is not the only consideration. I agree with Chris, and his code citation is clear enough. But let me add a bit of physics to the party.
The basis of any voltage rating is the ability of the non-conductive materials to prevent leakage current from the energized portions to the surrounding world. Consider, for example, a 600 volt rated wire sitting on the bottom of a metal conduit. The voltage rating of the insulation system tells us that you can impose 600 volts on the wire, and you will not get leakage current from the energized copper wire, through the insulation system, to the conduit.
In this instance, the energized portions of the component are the switch contacts and some other stuff, and the non-conductive materials are the plastics (or whatever) that keep the contacts in their respective places. A rating of 277 volts tells me that you can impose that much voltage, and not get leakage current from one of the switch contacts, through the plastic, to the other switch contact or to the metal piece used to screw the switch into the outlet box. If you have a 2-pole switch connected to two phases of a 480/277 volt system, then there will be 480 volts trying to drive current through the switch internals from one contact point to another, and the switch?s insulation system won?t be rated to prevent leakage current. That is the reason for the requirement that the switch be rated for 480 volts.