Thanks!

Most of the "tracks" in Toronto are created without changing the roadway, by placing planters, pre-cast concrete curbs, and/or flex posts on the roadway. IMO this is borderline for "track", but it's different enough from the norm of painted lane that I don't mind cycleway=track tagging. But as it is on the same roadway, I'm not sure drawing a separate way for bicycles is worth it considering the downsides.

(There are _some_ spots where roadway has been rebuilt to separate bicycles more - Bloor Street east of Bathurst comes to mind - but they're few and might not be on aerial imagery yet)

For naming, if we were to go with separate ways, personally I would suggest to match the street name. The fact that it's a cycleway is already in highway=cycleway, and routers will use something like "turn right onto cycleway Richmond Street West" which seems better than "turn right onto cycleway Richmond West Cycle Track" because the former is the actual name of the street.

Another note about mapping if using separate ways - please consider avoiding merging into main way at intersections, per https://community.openstreetmap.org/t/mapping-dedicated-cycleway-on-pavement-temporarily-merging-into-main-road/113840/3 (but I would note that the discussion on whether or not to do this is avoided when cycleways are mapped on the main street way)

As you edit OSM please also keep in mind that different regions may have different tagging/mapping norms.