Depending on context, TOOLING can be either a noun or the gerund form of the verb to tool.
As a noun, it usually refers to the manufacturing machinery required to produce a specified product, including such things as dies for molding machines, special jigs, automated assemby fixtures, etc. FasTrack jigs can be referred to as, "Tooling designed for easy assembly of do-em-yourself turnouts."
As a verb, it can mean using tools to produce a design or result, as in designs cut or burned into wood or leather. A model railroading application would be, "Tooling a stack of foam pieces into a mountainside." (Translation - Using hot wire, surform tools, knives etc. to shape the contours of a mountain in a stack of extruded foam pieces.)
It can also refer to moving or traveling - "Tooling down the highway," is common. I can't recall ever having heard it referring to anything on rails or water.
Isn't English a fun language?
Chuck (modeling Central Japan in September, 1964)