Monero developers tried to avoid the two chains and they hoped that the chain with original algorithm will eventually die, but some people didn't agree so they decided to maintain the original chain and call it Monero Classic. By the way, there is no info about the forked coin Monero Classic on official website of Monero.
I have mixed feelings about it but first of all, Monero Classic folks don't look credible to me, secondly, I like Monero's argumentation and I agree with them that ASICs would cause centralization.