It would be nice if you could label your toolboxs and also set what kind of tools are allowed for it to store, such as: only axes, axes and pickaxes, electric only, etc.
Maybe use m+click or shift+click to access the menu while your holding it.
toolbox labels, etc
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or you could have it be like the reactor, having it spit out anything that is not a tool.
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It would be nice to have a few boxes available which wouldn't screw up the picking up any time you needed a tool from another one. Also, didn't I hear a while back about the possibility of adding armour switching to the toolboxes?