Another option is to invert into them, and try to get inverted spider guard with feet on biceps, or go inverted grab their sleeves and kick the grip off.
That is a great option but it doesn't work if your opponent is controlling your far leg as well. When he just controls the near leg pant, or lets go of the far leg, then it is a very solid counter to invert.
One grip is no problem, lots of easy counters, but two grip becomes dangerous. As long as you control the near wrist against the pants grip (like Jeff shows in that vid), you should be fine.
One option I really like against the double pant grip is to "splay" your legs far apart, or pull one leg under you. What you NEVER want when defending the Torreando is to have both your knees and feet close together, because then your opponent's elbows are tight and you can't armdrag them, the elbows won't turn. If your knees are wide apart, then your opponents elbows will be open, and you can armdrag him through the mat. This is a huge key to successful armdragging ... positioning your legs to expose the arms, and turn the elbows, rather than letting him keep them tight. Once the elbows open and turn, you can hit a crushing armdrag.
Usually your opponent will either let go of the second pant grip in such a situation or not reach for it in the first instance, because he feels his arms are too exposed.
If you lose all grips on the sleeve, btw, then you need to grab a collar grip, turtle hard while stiff arming with that collar grip, and then either sit back to guard or roll over to guard.
Torreando is a very fun pass to counter, IMO.
