I would not be suprised if Tormen is going to be alive since bioware has already canonized some of the events in the game. My personal opinion if you don't capture/kill the chancellor your a wish washy bounty hunter you don't turn off a contract if a target goes pwease don't kill/capture me.
Plus this is from darth marr page from wookiepedia and it was recently updated with swtor encyclopedia information. Its wookiepedia so it could be taken with a grain of salt but as I said darth marr page was updated with the release of swtor encyclopedia. (I need that book since I want to check this part up if anyone has the encyclopedia can you please check this part I linked from wookiepedia to see if its true?)
Around 3,641 BBY, Darth Marr was presented with the body of Supreme Chancellor Dorian Janarus by Darth Tormen during a special session of the Council, as Tormen's bounty hunter had assassinated the Chancellor aboard his personal cruiser Founder during the Battle of Corellia. Marr was pleased with Tormen's work, and expressed an interest in hiring the bounty hunter if the need arose later on. Marr's support infuriated his fellow Dark Councilor Darth Decimus, whose Sphere of Military Strategy had planned the Imperial invasion of Corellia and who was personally overseeing the battle.
That was never in the encyclopedia book. Whoever put that in is just assuming the BH DS ending is canon, which we dont know yet. The reference to that quote leads to the email you get from Tormen.