Pre-existing contracts may be binding on someone who purchases a business. So the buyer of a web site might be bound by the TOS. Thus, a promise to customers could survive the company changing hands. (I can't speak to the particulars of this case, though.)
The flip side is that TOSs typically have some provision for amendment. Such provisions might be invoked by a company's new management. However, the management has to be careful even then, because of this: http://en.wikipedia.org/wiki/Standard_form_contract
Again, I'm not suggesting that any of this would necessarily apply to threewords.me. This is just my understanding of how it works in general.
BTW, I couldn't find a link to the TOS for threewords.me.
The flip side is that TOSs typically have some provision for amendment. Such provisions might be invoked by a company's new management. However, the management has to be careful even then, because of this: http://en.wikipedia.org/wiki/Standard_form_contract
Again, I'm not suggesting that any of this would necessarily apply to threewords.me. This is just my understanding of how it works in general.
BTW, I couldn't find a link to the TOS for threewords.me.