Those stuffmyths were created by a bunch of handicaps. Actually, they were supposed to be "jokes", which is usually for this community. But some little handicaps took this serious and spread it all around the game, which caused that little kids are believing into this crap. Some are registering here and spreading that stuff around. And as you know, myths are never ending. Some are "modificated" and get a kind of mutation.
I can't say anything about the myths, just that the Rendermen myth isn't true. I remember when one topic came up with this. The "Far Lands" myth is a bit complicated. It's possible, that there's something real into it, for example that going too far could crash Torque something. But I can't prove it, so this will just stay as an argument, without proof.