Torx (tm) was originally developed and patented by the Camcar division of Textron Corporation for two reasons: First, you can apply more torque to a Torx screw than to a slotted or Philips. Modern screws made of high quality materials can withstand those higher torques. Second, Torx is machine-vision compatible. So is slotted, but slotted screws cam out to easily. Philips, because of its angles, confuses machine vision systems. Hex heads don't have good contrast, so they also can confuse machine vision systems. With the increased use of robotics in assembly (especially in appliances and automotive), machine vision compatibility is important. So, Torx, Screwlocs, and Posidrive were all developed by competitive companies. Posidrive and Screwlocs are both still used some, but Torx has emerged as the market leader.
One thing I like about Torx is that because of the way the driver goes into the head, it's very difficult to cam out and mar the screw head.
The big problem is that Torx does allow you to apply a lot more torque. Small screws, T4, T3, T2, etc., are easy to break the head right off of.