The Collaborative International Dictionary of English v.0.48:

Splinter \Splin"ter\, v. t. [imp. & p. p. Splintered; p. pr. &
   vb. n. Splintering.] [Cf. LG. splittern, splinteren. See
   Splint, n., Split.]
   1. To split or rend into long, thin pieces; to shiver; as,
      the lightning splinters a tree.
      [1913 Webster]

            After splintering their lances, they wheeled about,
            and . . . abandoned the field to the enemy.
                                                  --Prescott.
      [1913 Webster]

   2. To fasten or confine with splinters, or splints, as a
      broken limb. --Bp. Wren.
      [1913 Webster]

WordNet (r) 3.0 (2006):

splintering
    n 1: the act of chipping something [syn: chip, chipping,
         splintering]