One of Torres faults was not using cards equally. This doesn´t mean he favored Brazil or Chile. It means that for similar situations, he decided differently. Valvidia should have been booked for softly kicking Robinho without the ball, but then he showed the yellow to a Chilean substitute.
This was a very controversial decision. It wasn´t very clear (apparently Venezuelan TV has some problems to catch and then show the polemic actions) but I think Love was pushed by Riffo. I think the Chilean didn´t want to get the ball at all. He just wanted to avoid the Brazilian getting it. Here, Torres was OK.
In order to get the ball, Elano violently hit Valdivia´s face with his elbow. Even when this didn´t seem to be intentional, he should have been shown the red card. Torres didn´t book him. Not red, not yellow... Nothing.
Torres also failed in little things, and during some moments, he lost control. He didn´t show a solid image. But, although he helped Brazil, the "Penta" was better than Chile and deserved their victory.