To determine the diver's elevation when he is 2/3 of the way down to the treasure that is 97.2 ft below the surface, we can use the following formula:
\[ \text{Distance down} = \text{Total depth} \times \frac{2}{3} \]
Given that the total depth to the treasure is 97.2 ft:
\[ \text{Distance down} = 97.2 , \text{ft} \times \frac{2}{3} = 64.8 , \text{ft} \]
Since depth below the surface is considered negative, we find the diver's elevation by subtracting this distance from the surface level (0 ft):
\[ \text{Elevation} = 0 , \text{ft} - 64.8 , \text{ft} = -64.8 , \text{ft} \]
So, the diver's elevation when he is 2/3 of the way down is \(-64.8\) ft, which corresponds to option D.