According to the timex site icontrol does not work with the touch or the most recent nano either.
http://www.timex.com/gp/node/n/364827011?ie=UTF8&timexBrand=core
"Control for your iPod
The iControl™ watch transmits signals seamlessly to your iPod so you can control your music in a heartbeat. Change songs and volume without breaking stride.
Designed to work with your body and coordinate with your iPod, the iControl watch is sleek and comfortable to wear - with all the features you need for running around the track or traveling around the world.
Compatible with: iPod 5th generation (video - 30, 60 and 80gb), iPod nano 1st and 2nd generation (1, 2, 4 and 8gb)"