However, as spoken "eyePhone" isn't really any different than "iPhone", and "iPhone" is a registered trademark of Apple. Trademarks are interesting beasts. There is no "fair use" of trademarks for parody (hence, why the Looney Toons always got "Acme" brand products), and you cannot choose to not enforce trademark.
So, more than likely, what happened here is that someone said "(eye|i)Phone", Apple's lawyers heard about it, trademark law says it's the job of Apple (and its lawyers) to prevent trademark dilution, so the lawyers call up Comedy central and say: "Hey, you know that part where you say 'eyePhone', and you can't really tell if that's 'eyePhone' or 'iPhone'...could you just clip that out?"
...wait, I'm sorry...I forgot this was the internet. BOO! Bad Apple! Such an evil company that will censor our funnies and ruin the purity of our bodily fluids!