That particular part of Theon does not seem to famous in the books. However Theon does like the company of women...
He is visitor of the whores in Winterfell and quite proud of how he "handles" them:
Two serving wenches stood beneath the sign of the Smoking Log, the local alehouse. When Theon Greyjoy called out to them, the younger girl turned red and covered her face. Theon spurred his mount to move up beside Robb. "Sweet Kyra," he said with a laugh. "She squirms like a weasel in bed, but say a word to her on the street, and she blushes pink as a maid. Did I ever tell you about the night that she and Bessa—"
A Game of Thrones - Bran V
He thinks that because of his station as Greyjoy women of lower birth should be pleased to have to opportunity to "be graced with his company";
Theon swept his cloak off its peg and over his shoulders. "Fathers are like that," he admitted as he pinned the folds with a silver clasp. "Tell him he should be pleased. As many times as I've fucked you, you're likely with child. It's not every man who has the honor of raising a king's bastard." She looked at him stupidly, so he left her there.
A Clash of Kings - Theon I
Again Theon believes himself to be special and that women will jsut fall in love with him after he has them;
"Have you ever had a prince?" he asked her. "When you're wrinkled and grey and your teats hang past your belly, you can tell your children's children that once you loved a king."
"Oh, is it love we're talking now? And here I thought it was just cocks and cunts."
"Is it love you fancy?" He'd decided that he liked this wench, whoever she was; her sharp wit was a welcome respite from the damp gloom of Pyke. "Shall I name my longship after you, and play you the high harp, and keep you in a tower room in my castle with only jewels to wear, like a princess in a song?"
A Clash of Kings - Theon II
Because clearly all the girl can wait to have a go with him;
He might have put it down to a bad dream, but he did not remember dreaming. Kyra had worn him out. Until Theon had sent for her, she had lived all of her eighteen years in the winter town without ever setting foot inside the walls of the castle. She came to him wet and eager and lithe as a weasel, and there had been a certain undeniable spice to fucking a common tavern wench in Lord Eddard Stark's own bed.
A Clash of Kings - Theon IV
So in the end Theon just seems to be promiscuous and vain, but no mention on if he has the hardware to back this up.