Hi Taylor I'd love to see the full functionality of torches. I explain.
1.Lighted torch in the hands.
2. Extinguish and reignite the torch.
3. Burn a camfire and stoves with a torch.
Sorry for my english. Hello from cold Russia
Your mod warms up)

Yes and more)
4. Take the torch from the block by "shift" click.

Thanks for the suggestions. :)

#2 is already possible -- you can extinguish torches with a bucket of water.