Nope, doesn't work. Well actually it probably does! Let me explain, they stick the iPod adaptor under the drivers seat. Now the standard slot is the correct size for the original hard drive based iPods, like my U2 iPod.
The car comes with a selection of adaptors that slot into the larger slot to make small ipod like nano's and mini's fit the port. However the iPod Touch is around the same width as a normal iPod, but much thinner and a bit longer. So it doesn't line up with the connection port, and even if it did the door that closes up under the seat, won't close because the touch is that bit longer. Drawback being the first time you brake the iPod will fly out into the foot well.
It would of been better if they had the iPod adaptor loose in the glovebox or somewhere more accessible. However the iPod adaptor isn't that great in practice, its that versatile at handling tracks and playlists. You can only have a maximum of 6 playlists, so its just like a CD Changer link in that regard.
You'd be better not getting the iPod adaptor, and just using the aux stereo jack, and connect the ipod through the headphone jack.