NO! Warren Wallace is a character created by Geico for their advertisments, who is played by a child actor named Eddie Heffernan. Eddie has, however, actually began partisipating in racing though, and even has the "warren wallace" name on his midget/mod car, which is sponsored by Geico.
While Geico will no longer sponsor Mike Wallace in the Nationwide Series in 2009(Nascar has forced them out to appease Series Title-Sponsor Nationwide Insurance), they will keep Eddie on as "Warren Wallace" in television ads alongside the driver that they'll sponsor part-time in Sprint Cup; Max Papis.