Okay wait. So then that would mean the hashing would include namecoin transactions into the bitcoin block chain and vice versa. How is this going to work when they are two separate networks?

Am I missing something?

I do get the idea of finding a hash that fits Namecoin and Bitcoin or just Namecoin.

Since namecoins difficulty value is less than bitcoin, the only case would exist where it would benefit you is you could get a hash that is less than both namecoin's threshold and bitcoin's threshold but not the other way around unless namecoin's difficulty goes above bitcoin's or they some how become equal someday.

Still a little unclear...