The "using" rule is a convenience rule:
using MODULE_NAME : field1 : field 2 : ... : field9 ;
The above essentially does this:
import MODULE_NAME ;
MODULE_NAME.init field1 : field2 : ... : field9 ;
So, if you look at the gcc.jam module, you'll notice that its init() rule's signature is this:
rule init ( version ? : command * : options * )
Thus, the using rule would be used like this:
using gcc : $(valid-gcc-module-version-string) : $(optional-command-to-gcc-exe) : $(options) ;
Where $(options) can be something like <root>root/directory or <flavor>mingw.
You can find the using() rule's definition in the toolset module.
Hope that helps,
Aaron