So, there's quite a lot of humor in Torchlight II. But you won't find much of it in the story. Instead, you'll find it by interacting with objects in the world. You'll also find it in the names and descriptions of some of the unique loot items. In my experience, the jokes I've run into have caused me to burst into laughter. Not just a little chuckle, mind you. Laughter. The jokes are incredibly dumb, but they always make me laugh. They're far funnier than they have any right to be.
Here are some screenshots to explain what I mean.
I think the reason I like the humor in this game so much is because it always catches me off guard. I never really know when it's going to pop up.
What about you? Do you enjoy the humor in Torchlight II? Do you find it refreshing that an ARPG other than Borderlands is injecting some humor into a genre that is otherwise saturated with doom and gloom?