I would never send a gun to this 'smith' but I believe even Ithaca Gun Company (at the end of their life) were restoring guns with torched colors.
I have an Ithaca service manual from around 1980/81 in which they recommend refinishing their Perazzi's by the "Cold Blue" method. For this the part is heated till it will just sizzle water (about 165° F) ( torch may be used) & the cold blue daubed & streaked on to give desired pattern. To me, when I see the term "Torch Color" I think of the accetylene torch method of holding the tip of a torch to the part till it changes color (temper colors) which is an altogrther different thing. For the "chemical" treatment part is heated uniformerly to a temp below that of boiling water. For the temper colors part is "Spot Heated" to much higher temps. Whether or not the chemical colors are aesthetically pleasing is for each to decide for themselves, but if properly done absolutely no damage is done to the part & it can be simply removed down to bare metal for whatever alternate treatment might be desired. Personally, I run from those temper colored (torched) jobs.
I have no personal knowledge if Ithaca ever used the "Temper color" method or not, or if the reference was confusion with using a torch (normally a small propane one) for the chemical method.
Apparantly I need to save more money for college... I guess now isn't a good time to tell them about next weekends auction...