Yes, this is the same joke as last week - we love that kind of thing. Repetition is the key to humor, after all.
Anyway, based on that, you can probably figure out that the Dreadnok is Torch, and the GI Joe is Blowtorch.
Torch: Why am I dating him? It's right there in his...
Torch: See, his name implies...
Torch: I mean, afterall, he IS a...
Torch: ...well, let's just say I have my reasons and leave it at that.