The motor is a European SEW motor. The nameplate does indeed say 260/460 so its sounds like I need to wire it in a wye connection with my supply voltage of 480V. This motor is indeed a 6 lead motor with 3 windings and the nameplate shows the different winding configurations.
If a 6 lead motor is either wye or delta and cannont be re-wired between the two, then why does the motor have two different wiring methods which appear to be a delta and wye configuration with the three motor windings? It sounds like you are saying a 6 lead motor is either a wye or delta, but why have the two different configurations?
On a 480V system will the 480V supply always be ton he high voltage connection?
NEMA motors with 6 leads are either Y or Delta, but yours is not a NEMA motor. It is an IEC motor, originally intended for use in Europe or Asia for instance. In those areas, the common voltages are either 220Y380, 230Y400 or 240Y415V, and the difference between them all is the sq. rt. of 3, or 1.732. So 240 x 1.732 = 415, or 415 / 1.732 = 240 (all are nominal). That means you can have a "dual voltage" motor by simply bringing all 6 leads out and connecting it either way; Y for the higher level, Delta for the lower.
But here in N. Am., we don't do things like that so out motors are not wound for it. Our voltage choices are generally double, i.e. 240 or 480. So the 1.732 trick, that of connecting a motor in Y or Delta, doesn't work here. What they id or your motor was to take a 220/Y380V 50Hz wound IEC motor and changed the nameplate for use on 60Hz. Motors work via a V/Hz ratio. 415V 50Hz is 7.6 V/Hz. If you apply a 60Hz power supply, then to make the ratio correct, you would been 60 x 7.6 = 456V, which they rounded up to 460V. But where the 50Hz lower voltage was originally 220V, the new ratio has to follow the same rules. So 220 / 50 = 4.4 V/Hz, x 60 = 264V, which they are rounding down to 260 in order to make it sound a little more palatable perhaps.
To answer your other question, No, you will get full torque at 480V when connected in Y, or full torque at 260V when connected in Delta. But if you connect only 240V in the Delta pattern, the torque will be reduced by the square of the reduced voltage percentage. So 240/260 = .92, squared = 85% of FLT.