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Originally Posted by
I thought I read that some of the former employees took the name and started anew 
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You are correct. Back in Sept, former distributor of Torco Race Fuels, Phoenix Race Fuels has resurected the brand. Here's a press release from their site which is torcoracefuel.net to differentiate it from Evan's which is a torcoracefuels.com, which by the way is still up and running. They also have a new logo to distinguish the difference.
September 9th 2008
Press Release
Torco Race Fuels to “re-ignite” in North America.
Phoenix Race Fuels in Chandler Arizona has entered into a confidential multiyear licensing agreement with Torco International, to manufacture and market the popular Torco Race Fuels brand of products. Torco looks forward to the continuation of providing the racing community with quality fuel products consistent with almost 60 years of excellent reputation of Torco trademarks for every segment of racing automotive, motorcycle, snowmobile, ATV, and watercraft, to name a few. Torco International is based in California and provides the racing community with performance products including advanced lubricants.
Race car manufacturer Jody Davis of Arizona, along with a small group of local investors, has teamed up to put Torco Race Fuels back in the race. They are currently offering a full line of Torco Race Fuel Products in limited volume, until there Chandler Arizona facility is up to speed.
Phoenix Race Fuels (a Torco distributor) was faced with a difficult decision earlier this year when then Torco Race Fuels manufacturer Evan Knoll made the call to halt the supply of fuel to the West Coast. Not willing to throw away all their hard work in securing supply contracts with tracks such as Las Vegas Motor Speedway and Firebird International Raceway, Jody and his team made the leap from race fuel distributor to race fuel manufacturer. “It’s been a tough road, but Torco has such a loyal racer base that we couldn’t just let the brand fade away” says Jody.
In an effort to deliver the best customer service, Phoenix Race Fuels landed former Torco Race Fuel employees Alan Hemsworth and Don Clark. With over 40 years of automotive aftermarket sales between them, Alan and Don feel confident the quality Torco distributors that were in place earlier this year will again be proudly offering Torco Race Fuel Products to their customers. Rising from the ashes, aptly named Phoenix Race Fuels, plans on continuing the same philosophy that’s has brought success to three generations in the Davis family a “yes we can” attitude.
Look for Torco Race Fuels at a track or race fuel distributor in your area again soon. For more information on ordering and product availability, go to the Torco web site:
Welcome to Torco Products - Oils and Race Fuels and Accelerators
The Torco Products mentioned at the end is the Torco Oil Co. that most people thought Torco Race Fuels was owned by. The new Torco has agreed to a license like Evan initially did, but I am sure these new people will renew the license, unlike Evan who didn't, but continued to use the name.