There's no Bluetooth radio in the iPod touch. Ergo, the icon in the diagnostic software, which is probably the same utility for both touch and iPhone, has a big red X on it. Meaning, hardware not present.
I can see where you're coming from, but if this was originally diagnostic software used with the iPhone wouldn't there also be other tests for other features not included with the touch? Thinks like the cellular radio and vibration?
Honestly, i don't see the touch including Bluetooth... But these images really state otherwise, i think
EDIT: The iPhone does have vibration, right? I'm not sure, since you can't get them over here so i haven't been following the story that closely.
EDIT2: Oops, don't think it does have vibration. But there still would be some form of diagnostics option to test the phone Radios, right?
I'll own up. I would wager, but with holidays and Christmas coming up for our many kids, even a relatively small wager would be irresponsible of me. But PM me if it turns out there is a BT radio in there and I will publicly post an acknowledgment to this forum noting that I was wrong.
I'm just teasing you, of course. I don't believe there is one in there, but I wouldn't put it past them. We'll see once the take-aparts start getting posted.