Tools provides faster toolbelt skill recharges which helps at triggering Runes of Altruism more often and more regen+might from elixir gun tool belt. The selectable traits are mainly up to preference. 1-3-X gives a tiny bit of DPS while 2-1-X can be used for utility uses (like immobing stuff by equipping Elixir Gun with Streamlined Kits).
However, you can get comparable runes like Ogre or Spellbreaker for less than 1-2 gold each, and some other decent options go for 0.06 gold each. Likewise for sigils; condition damage and duration sigils cost about 6 gold each, but you can go for the sigils that increase the duration of just your main conditions, which cost about 0.1 gold each.
Pretty sure it literally told you you cant respec but will be able to learn another spec at a certain "level" when you got to the point of selecting. Unfortunately you cannot respec professions. You open up the other specializations at 50 and 100 skill for herbalism, so just sit on any knowledge you gain until then.