Not really, no. It's more different from a dinosaur than we are.
And no, they didn't live at the time of dinosaurs. There were similar species, but the whole of Notostraca is in need of a review, as it hasn't been thoroughly examined since 1938, and only the carapaces were preserved in the Triassic strata. As a result, Triops, especially Triops cancriformis, is somewhat of a waste basket taxon, like Megalosaurus before the recognition of Dinosauria.
Note: I did recognise the sarcasm there. At least I hope that was sarcasm.
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