Leo and Wally: the same muppet?

[minor muppetz]

In the muppet morsels for the Ethel Merman episode of the muppet show, it says that Leo was briefly renamed Wally for The Muppet Valentine Show. However, even though they were both performed by Jim henson and look similar, I think they are different characters.

I am not sure whether the muppet show pitch tape was made before or after The Muppet Valentine Show, but in The Muppet valentine Show, Wally has a round red nose while Leo has a triangular nose that is the same color as his face. Whenever Wally appeared in the audience, he had a triangular nose just like that. If leo was around before The Muppet Valentine Show, and if the pitch tape was produced before that, then it would be weird to change his nose only to bring back the original nose.

Also, leo has normal eyes, while Wally didn't have eyes. During the closing song in the valentine special, there is a shot where wallys glasses briefly fly up and back onto his face, and if you look closely, you can see that he has no eyes. Also, Wally doesn't have eye brows, yet Leo does.

What does everybody else think about this?