torment: severe, consciously felt suffering, whether the agony of disease or the punishment of the dead
This word names severe suffering that is actually felt: acute agony, torture, torment. In the New Testament it always carries this weight. The word began life far away from pain, as the name of a black stone that goldsmiths rubbed metal against to test whether it was genuine, and it later became a term for interrogating people under torture to get at the truth. By the first century, though, that older idea of "testing" had dropped away entirely, and the word simply meant torment.
It is used in two settings. It can name the raw physical agony of disease, as in the crowds "gripped" by various torments who were brought to Jesus. And it names the conscious suffering of the dead under judgment, as in Jesus' story of a rich man who finds himself "in torment" in the place of the dead. The two uses share one core: suffering that is intense and directly experienced.
Compared with a word like κόλασις, which names a punishment as the sentence handed down, this word names the felt agony of it. And where ὀδύνη, the inward pang of pain or grief that stands right beside it in the story of the rich man, points to a single stab of anguish, this word points to the whole ongoing state of torment.