The Serbian was furious after Torella over-ruled a Ramos-Vinolas serve that had been called out, giving the Spaniard match point.
Troicki grabbed the ball out of a ball boy's hand and demanded Torella look at it for signs of 'chalk'. After losing the next point and the match, he continued to harangue the umpire, calling him "the worst ever umpire in the world".
An unrepentant Troicki said afterwards: "He should be the one who is fined, he cost me. I behaved well. I didn't do anything until that moment.
"He doesn't have experience on such a surface and in such a match.
Wimbledon 2016 - In pictures
1/110
"He's not able to do a proper job, so I told him that. I was just boiling at that stage. I just couldn't talk normally."
Williams was fully expecting a dent in her prize money following her racket abuse.
She said: "It's definitely a fine. I was just really, really, really angry.
"I've cracked a number of rackets throughout my career. I've gotten fined a number of times for cracking rackets.
"In fact, I look at it like I didn't crack one at the French Open or Rome, so I was doing really good. I don't want to go too long without cracking a racket."
Where to watch Wimbledon
1/23
Australian Nick Kyrgios has been fined after both his matches and his 4,000 dollar (£3,000) punishment for an audible obscenity during Friday's second-round win over Dustin Brown took his tally to $6,500 (£4,900).
Britain's Dan Evans, meanwhile, has been fined $2,000 (£1,500) for an audible obscenity during his first-round win over Jan-Lennard Struff.