If you are wanting to do a factory reset when you can't get into the device to choose it from the settings menu, then the answer is yes. Make sure you are fully charged before starting.
On the Touch:
- Hold down the power button for 15 seconds.
- Hold down the home button
- Keep it pressed while turning the device on.
This should trigger a hard factory reset.
I've been told that the same process works for the Glo but hold down the light button instead of the home button. I have not had to try it out yet