So the exact procedure is (I will add this to my longer posts once i confirm this, will try after work):
1. Open CoolTerm on your PC. Change settings to 38.4k baud (if this is the OBD2 device's original baud rate).
2. Plug in OBD2 to USB and power it up.
3. Hit connect with coolterm. Press Enter. Typing ATI and enter will confirm it is connected and repeat its version number.
4. Enter "AT PP 0C SV 23" (without the quotes) to set the OBD2 baud rate to 115.2k. It should respond with OK.
5. Enter "AT PP 0C ON" (without quotes) to tell the OBD2 to use the new baud rate.
6. Power down the device and exit CoolTerm.
7. Reopen CoolTerm and set baud rate to 115.2k. Power on device, connect, hit enter, run ATI command, and confirm it responds using new baud rate.
8. Change baud rate settings in Torque app to 57.6k baud, which is actually 115.2k baud.
9. Check your PIDs/sec in adapter status to see if you achieved faster speeds.