The theory is it would work if the TV had the correct composite input or adaptor….but it states it will not work with firmware 3 or above, the iOS as Apple now call it. As the iTouch uses this and will most likely have the most up to date firmware I don’t think it will work. A bit more on iOS here:
http://en.wikipedia.org/wiki/IOS_(Apple)
Apple official products seem to be recognised by the device these days and unofficial kit is blocked by all accounts for your ‘own good’. I think Tesco sell a similar item by Technika with the ‘made for ipod’ stamp. Try that. The official one http://store.apple.com/uk/product/MB129ZA/B can be had for a bit less than advertised but will still be expensive. It does come with a charger too though.