There's no way that they can give Torres just 3 games.
I'm not saying that is what I favor. But for them to ban him for 10+ games like some (not here, other boards) are suggesting would be to directly admit that the officials seriously messed up. I think that factors in a little. I've seen people argue that:
1) Torres's skates don't leave the ice until the body contact is already made.
2) Hossa is 6'2" and Torres 6'0", so the head contact was not a targeted hit, but rather the consequence of Hossa hunching after playing the puck and Torres' shoulder making contact with where Hossa's shoulder would have been.
3) The launching upward motion you see in Torres is a natural extension of a hit, your knees go from bent to upright. The momentum carries your body up the recipients body.
4) Kronwall hits like this constantly. Gets no suspensions, not even penalties. (and people make this argument without it being even a tongue-in-cheek reference to Shanahan's raging Redwing boner)
5) The difference in the NHL rule book definition of a late hit and when this hit was delivered is about .3 seconds. NHL defines late as after .5 seconds of hit recipient losing possession, this hit is aboyt .83-.90 depending on when you think the hit was initiated (i.e., does a hit start at contact or is there a point of no return before contact?)
Given Hossa does not appear to be seriously injured as of now (he left the hospital before the game ended I believe) and Shanahan has hinted at using injury as a suspension indicator, Asham only got a 4 game suspension for corss-checking Shenn in the neck and Shaw got 3 for what can be considered an unfortunate incident I am predicting a match to Shaw's ban. Maybe they just ban him for the rest of this series by going to 4 games. I don't think they'll superban him though.
This is a difficult situation. On the surface I don't like that particular hit, but if Hossa had his head up (don't read this as me blaming him for the result) it would have probably been shoulder to shoulder and on highlight reels for being a Stevens-esque demolition. That said, I think you punish players for hitting the head whether they meant to or not, with some discretion (the Shaw suspension is ridiculous). And if they clearly meant to hit the head, throw the book at them (preferably at their head).