The Collaborative International Dictionary of English v.0.48:

Water \Wa"ter\, v. t. [imp. & p. p. Watered; p. pr. & vb. n.
   Watering.] [AS. w[ae]terian, gew[ae]terian.]
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   1. To wet or supply with water; to moisten; to overflow with
      water; to irrigate; as, to water land; to water flowers.
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            With tears watering the ground.       --Milton.
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            Men whose lives gilded on like rivers that water the
            woodlands.                            --Longfellow.
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   2. To supply with water for drink; to cause or allow to
      drink; as, to water cattle and horses.
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   3. To wet and calender, as cloth, so as to impart to it a
      lustrous appearance in wavy lines; to diversify with
      wavelike lines; as, to water silk. Cf. Water, n., 6.
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   4. To add water to (anything), thereby extending the quantity
      or bulk while reducing the strength or quality; to extend;
      to dilute; to weaken.
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   To water stock, to increase the capital stock of a company
      by issuing new stock, thus diminishing the value of the
      individual shares. Cf. Water, n., 7. [Brokers' Cant]
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The Collaborative International Dictionary of English v.0.48:

Watering \Wa"ter*ing\,
   a. & n. from Water, v.
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   Watering call (Mil.), a sound of trumpet or bugle summoning
      cavalry soldiers to assemble for the purpose of watering
      their horses.

   Watering cart, a sprinkling cart. See Water.

   Watering place.
   (a) A place where water may be obtained, as for a ship, for
       cattle, etc.
   (b) A place where there are springs of medicinal water, or a
       place by the sea, or by some large body of water, to
       which people resort for bathing, recreation, boating,
       etc.

   Watering pot.
   (a) A kind of bucket fitted with a rose, or perforated
       nozzle, -- used for watering flowers, paths, etc.
   (b) (Zool.) Any one of several species of marine bivalve
       shells of the genus Aspergillum, or Brechites. The
       valves are small, and consolidated with the capacious
       calcareous tube which incases the entire animal. The tube
       is closed at the anterior end by a convex disk perforated
       by numerous pores, or tubules, and resembling the rose of
       a watering pot.

   Watering trough, a trough from which cattle, horses, and
      other animals drink.
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WordNet (r) 3.0 (2006):

watering
    n 1: shedding tears [syn: lacrimation, lachrymation,
         tearing, watering]
    2: wetting with water; "the lawn needs a great deal of watering"

Moby Thesaurus II by Grady Ward, 1.0:

68 Moby Thesaurus words for "watering":
   adulteration, affusion, aspergation, aspersion, baptism,
   bastardizing, bath, bathing, bedewing, contamination, corruption,
   cutting, dampening, damping, debasement, deluge, dewing, dilution,
   doctoring, drenching, drowning, excretory, flooding, fortifying,
   hosing, hosing down, humectant, humidification, immersion,
   inundation, irrigation, irrigational, irriguous, lachrymal,
   lachrymose, lacing, lacrimatory, lactational, lacteal, lacteous,
   laving, moistening, pollution, rheumy, rinsing, salivant, salivary,
   salivous, secretional, secretive, secretory, seminal, serous,
   sialagogic, soaking, sopping, sparging, spattering, spermatic,
   spiking, splashing, splattering, spraying, sprinkling, submersion,
   swashing, watery, wetting