Yes, it is true GI Joe used an Argonaut "Kraken". When I was a kid in the 60s I had a GI Joe that had a red triple tank set, red mask and red DH reg. It could only be a Kraken, due to the FACT that Argonaut is the only reg. that uses red hoses. That and GI Joe comic books don't lie!
"Where'd ya get that ol' thang, don't cha' know them thare things ill kill ya!"