With I/W can they use their trait if they have one token on them?

No.

Golden Rule #4
THE RULE OF ACTION TOKENS
No action can be taken or game effect used if it would place a third action token on a character. No game effect can result in more than 2 action tokens on a character.

Ok, I have another question about their trait:


ALL-OUT ASSAULT: Once per game, give Iron Man/War Machine a power action that places two action tokens on them. Iron Man/War Machine possess [1 range] for this action. They can make up to 4 close and/or ranged combat attacks as free actions. An opposing character may only be targeted once during this action. After resolving this action, Iron Man/War Machine are dealt 1 unavoidable damage.

Ok, now is this a misprint in the units section or what?
The text says they get a [1 range]???

Is that 1 lightning bolt[instead if their printed 3]or does this mean they get a 1 range for the ranged attack?

Card says , not [1 range].

Oh nifty. I didn't realize Iron Man/War Machine needs to have zero tokens at the time of this trait's action. Thanks a ton for this.

Unless the fig has the MOE TA.

That has nothing to do with the rule of action tokens.
Using the MoE TA does not place any additional action tokens.

Well, I've been doing that wrong then. lol