ETA: in case the 15 years since the release wasn't enough time for you to catch the flick (*grin*), spoilers in the comments.
Credit to http://www.lostinthepast.net for the movie screencaps.
Sean Astin .... William 'Billy' Tepper
Sean worked steadily with varying levels of acclaim (From Encino Man to Rudy in one short year) until he found worldwide fame with a trio of movies about some hobbits taking a loooooong walk. Working even more steadily since his return from Mordor, he
photos found via Google
Wil Wheaton .... Joseph 'Joey' Trotta
Wil worked fairly frequently throughout the '90s and early 2000s, but has only recently made peace with his somewhat villified "Star Trek The Next Generation" past through his writing. What started as a simple blog has grown into a career as an author. He has published two books and still occasionally books acting roles and voice work. He's recently become a fixture in the world of competitve poker, in person and via blogging. You can read his personal blog and find links to his other works at http://www.wilwheaton.net.
photos via WWdN
(Poster's note: god, still hot. I've loved this guy since The Buddy System. ::swoon::)
Keith Coogan .... Jonathan 'Snuffy' Bradberry
Keith followed up his Toy Soldiers role with a memorable performance in Don't Tell Mom the Babysitter's Dead ("Dishes are done, man!") Sadly, his career since then has been slightly less memorable. His last named role mentioned on the IMDB was a 2003 episode of "Joan of Arcadia." Every now and then you'll catch him commenting in Wil's blog.
screencap from Joan of Arcadia by me
Andrew Divoff .... Luis Cali
Andrew spent some time in the late '90s cementing his role in movie lore as "The Djinn/Nathaniel Demerest" in Wishmaster and its sequel. He's spent the years since then mostly in small roles in various series from "Nash Bridges" to "The Unit," and apparently is big on the horror con circuit.
photos found via Google
Louis Gossett Jr. .... Dean Parker
Louis has had an incredibly active career since Toy Soldiers. Check out the extensive list on the IMDB. And, if you pay attention, you can hear him on your television as the voice of the current US Navy commercials
photo via IMDB.com
George Perez .... Ricardo Montoya
George has had a variety of small movie and TV guest roles through the '90s and '00s. His most recent IMDB listing is from an episode of Criminal Minds from last season.
screencap from Criminal Minds by me
T.E. Russell .... Henry 'Hank' Giles III
See above re: George Perez, only with more frequency. His last listing on the IMDB is a role in last season's "Cold Case" finale.
photo from IMDB.com
Shawn Phelan .... Derek 'Yogurt'
Shawn had a handful of roles in movies and on TV prior to the 1994 car accident that left him in a vegetative state until his death in 1998. Shawn was 19 at the time of his accident, 23 at the time of his death.
Fill out those living wills, kids.
From the last set of pictures before his accident:
photo from this tribute site
And, for those who're wondering about Joey & Billy's roommate:
Knowl Johnson .... Phil Donoghue
Toy Soldiers capped Knowl's acting career, and beyond 1991, the Internet is all "::crickets::" when it comes to him. If you want more of him, though, he's the other brother (the one that wasn't one of the kids that Charles was in Charge of) in Steel Magnolias, and had some popular voice roles prior to Toy Soldiers.