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Im sure there are a lot of people with more details and even inside knowledge, but since nobody else has replied, here are a few things from the top of my head.
I think they altogether dropped the S60 over the new S30 model, because this year they started to race the just developed S30. They are running the "old" E85 engines they ripped out from the S60ies they raced last year.
From what I heard this S30 is first fully "in house" developed car they've made and they took the old engines and some other parts to minimize the teething problems. Though ironically, they supposedly have had the most problems with exactly those parts that they salvaged from the previous S60s.
That's about as deep as my knowledge goes regarding Volvos TCC efforts.
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