Torpedoes?

I think they are okay. They are very dice dependent. If you are rolling hot they can decimate your enemy pretty quickly. If they are rolling cold you are toast. It is somewhat similar to playing all battleships. If a player gets an early vital roll the opponent is in a world of hurt.

I feel that
Ive got rolled twice with aoba based fleets, by Commonwealth Waspite+Cruiser fleets(with no air)

They aren't overpowered at all it's more of an archetype vs archetype matchup. Give the torpedoes a juicy target like a BB and your in trouble , counter them with air or batteries or if facing the ijn even cheap efficient cruisers and dd swarm can easily overcome them.

Having initiative against them helps immensely, I find builds that always contains BB's struggle against them the most.

The most over powered unit in the game is the 6 hull BB by far as well as some 5 hulls , if it wasn't for archetypes like torpedoes at their current level to help balance it out the game would be in trouble.

I think he meant one LL torpedo per cruiser.

You are correct, the dice DO NOT represent individual torpedoes. Imagine rolling 12 torpedo dice, or even 8 if we had one die per torp. It's just an "odds" thing.

I think from the historical point of view plenty of examples are to be found of ships surviving torpedo hits (Javelin, less bow & stern springs to mind and various US cruisers) and they probably do too much damage too quickly from that perspective. Gaming side of things I think it is ok generally, although I think the LL ability could have been maybe worked on with the third hit not being so readily given or under certain conditions. But then again looking at the US strength in the game it is something the IJN now need. The fragility of LL carriers to US airpower is obviously another factor in that debate.