Re "flicking" knives: this has been explained at length in other posts and it takes too long to explain the law here. We really do have to pick one thread and link the best posts to one place.
Basically, if you can flick it open from a completely closed position, you may very well have a restricted weapon, even if that wasn't the design.
Re Toronto laws on knife length, as far as I am aware there is no bylaw regulating knife length. It is also questionable whether such a bylaw would be intra vires ie, legally valid, but such laws have been upheld elsewhere: however, the penalties for breach of a bylaw are rather different than for breach of the Criminal Code. Still, it is possible that there is something obscure out there on the books or that council will pass something stupid, again.