I have to wonder it would make any sense for either Torres or Chelsea to part ways.
For Torres, he now looks like he belongs here; he looks comfortable, and he looks like he is enjoying playing again. It took a while, and why would he want to start that process all over again anywhere else? Also, how likely is it he would be going to a club with better chances of success than Chelsea?
For Chelsea, we forked out such a lot of money for Torres, and selling him now would be admitting we made a huge mistake, and would mean trying to get back as much (no matter how little) for him as possible. However, why would we do this when he is showing signs of turning a corner?
From a form and confidence perspective, I say we keep Torres. But ultimately, it will come down to whether Jose (or whoever else) sees a place for him in our squad.