It is not a word frequently seen in names.
If you don’t know, Chinese don’t have words specifically for names. We pick words (that are used for regular communication) to form names. So our names have very straightforward, easily recognizable meanings. The best way I can describe it is that our names are similar to Native American names (as far as I know).
Yes, I understand English names have meanings too. But it’s not the same. You guys go with Lucifer. We go with Morningstar.
火炬 means torch. It doesn’t have any bad meanings associated with it, but as a regular utility item, you usually don’t see that in names. Chinese parents usually go with names that have good meaning and are poetic.
On top of that, 火炬 often associate with the Chinese communist party.
This is the logo of the Young Pioneers of China, a mass youth group (sponsored by CCP).
So if you adopt the name 火炬, people will associate you with CCP. Or at least thinking your parents must be devoted party members.
If you’re looking for names with similar meanings, like, “illuminating” “flame” or “fire,”, try 亮，炎，焰，明，芒，光，etc.