I would think you'd have made eye contact and sussed each other up for some time, and the battle cry is something that breaks tension and releases.
Well, I just don't think you need to bring a second person into it in the first place.
I can see how the words themselves, without any prejudice about what basic training entails, can lead to your interpretation-- so I am certainly not saying that is wrong. But in my understanding of training, this doka would very likely refer to a feeling within oneself during solo training.
Part of my interpretation is based on the initial words of the doka (but of course at some point it's true that we have to get away from the English translation to really make sense of anything). The "training everyday" makes it seem like the doka is referring to the most basic, fundamental level of practice (the "everyday" aspect).
If you take the most fundamental part of training to be partner practice, your "partner-based" interpretation makes the most sense. But, if you take solo misogi to be the fundamental aspect of practice, with partner practice being a less frequent type of training on top of it, then the doka seems to refer to a feeling that makes you smile that is independent of any partner.