The Collaborative International Dictionary of English v.0.48:

Cooling \Cool"ing\, p. a.
   Adapted to cool and refresh; allaying heat. "The cooling
   brook." --Goldsmith.
   [1913 Webster]

   Cooling card, something that dashes hopes. [Obs.]

   Cooling time (Law), such a lapse of time as ought, taking
      all the circumstances of the case in view, to produce a
      subsiding of passion previously provoked. --Wharton.
      [1913 Webster]