While there is a "stone" Reed and a "Human Torch" Reed, there isn't an "orange rock" Reed. If there's a Reed with invisibility powers, we (obviously) don't see him. Maybe there's a Reed that took the rocket flight only with Ben (as Sue and Johnny rarely have valid reasons to be on the flight, except in updates or adaptations), and they became the Dynamic Duo instead of the Fantastic Four.
A "dream" story like this was done for Spider-Man in the new MARVEL COMICS PRESENTS series, only all those alternate Spider-Men were aliens. There are two "AU" Peter Parkers I'd like to see: One where the burglar ran past Peter but a cop wasn't chasing him, so Peter had no idea the man *was* a criminal; and another where Peter only saw the cop running and completely missed the burglar. I'm curious what kind of Spider-Man we get where Uncle Ben is still killed but Peter blames himself for entirely different reasons or not at all.