What does Eau De Toilette really mean?

The translation is correct, "Eau de toilette" literally means "toilet water". It goes back more or less to 15th century Europe where scented water, usually rose or similar fragrance, was used to soften the smell of the chamber pots used as toilets during that period. The current conotation is more commonly aligned with a softer, less concentrated scent than a full Parfum (perfume). HTH.