Based on my experience and my reading of the code, you only can only call tooltip once on a node, so if you want to set up multiple selectors with different default values, behaviors, etc, you are out of luck. In the following example, only "Hover over me" gets a tooltip:

<span title="hover-tooltip" class="hover-tooltip">Hover over me</span>
<span title="click-tooltip" class="click-tooltip">Click on me</span>
<script>
  $('body').tooltip({selector: '.hover-tooltip', trigger: 'hover'});
  $('body').tooltip({selector: '.click-tooltip', trigger: 'click'});
</script>

Seems like it would be nice to be able to set up multiple delegated selectors on a node. Would probably require a bit of work though, but if there's an interest in this, I could work on a pull request.