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Colbert on O'Reilly, O'Reilly on Colbert?

If Bill O'Reilly and Stephen Colbert appear on each other's shows, do they cancel each other out?  

The world will find out January 18, when Colbert will appear on The O'Reilly Factor at 8 p.m. on Fox News Channel. The O'Reilly Factor is, essentially, the show The Colbert Report is lampooning.  O'Reilly, however,  will return the favor and appear on the 11:30 edition of Colbert's The Colbert Report on Comedy  Central the same evening.

It will be a first appearance for each on the other's show.