Sure it will. Around the 21st of the month the namecoin difficulty will be a tiny fraction of bitcoin (I estimate 20k or less for namecoin, 3 million for bitcoin). For a brief, shining moment with all of us dogpiling on namecoin to generate all 2016 blocks in less than 24 hours the BTC difficulty will drop. =)
There should be a name for this occasion, since I suspect it will be periodic.