So from my understanding a torch and a laser are identical. Can you enter laser one design events with a torch, I've read that ISAF plaqued lasers can race one design with torches but can torches race one design with lasers?
The whole "Torch" thing is/was a kind of a "plan B" by Bruce Kirby to keep the Laser class and building of new boats running independently of LaserPerformance. As LP holds the rights to the name "Laser" and the class insignia almost worldwide, the trick is/would have been to change the name and logo.
That plan is currently on hold, at best. We don't know what the outcome of the lawsuit between Kirby and LP (+others) will be, so the ultimate fate of the Torch name is unknown as well, but the concept seems to have lost all its early momentum. It already backfired in that ISAF used it as grounds for terminating their contract with Kirby, and approving ILCA to supply plaques without Kirby's name to new boats.
There are no boats that were originally built as Torches, nor is there any racing anywhere under the name. Theoretically, all Lasers built by LP or PSJ which have Kirby's name on their ISAF plaque are Torches as well, as are all Lasers built by all other builders.