It was the Bucks who started the livelier, with Sean Clancy and Andy Todd combining well.
Todd sparked the breakthrough for the hosts with a mazy run causing Martin Rice to spill the ball, which allowed Mike Grogan to slot into an empty net.
Torquay equalised after 18 minutes when Angus MacDonald met Luke Young's corner and made no mistake from close range.
United took the lead after another Luke Young corner, this time met by Ryan Bowman who duly converted.
Just as the visitors thought they had done enough to go into the break with a lead, Telford equalised with Rob McDonald nodding in from a Sean Clancy corner.