Using jQuery Tools with Drupal 7 I have looked online to see if it is possible to use jQuery Tools 1.2.7 with Drupal 7. I see that there is a defunct project that attempted to use it in Drupal 6 but nothing for Drupal 7. I tried downloading it and including it in the scripts line in the .info file for my module but still not executing. I suspect the issue might be that jQuery Tools expect jQuery 1.7.2 while Drupal 7 uses jQuery 1.5.

The specific feature that I am trying to use is the overlay function. I followed the online documentation but I don't see any overlay. All it does is reloading the same page over again. I was wondering if anyone has used the overlay module with Drupal 7 and has gotten it to work.
You're approaching this correctly in trying to add this in your own info file - not every jQuery library needs its own Drupal module and its often more overhead than its worth to try and set one up. If the jQuery tools module is what you need but its not compatible with the current version of Drupal 7, than use jQuery Update module to upgrade your version of jQuery.  

If all you need is the overlay and you're not tied to the jQuery Tools implementation, you have a couple of customized Drupal options that should be easy to implement:


The built-in overlay functionality in Drupal 7.x core (see https://drupal.org/node/1087026 for guidance on how to implement)
Use one of the specialized overlay libraries - best one I've found is Colorbox, which has a Drupal module with easy to implement solutions (i.e. no hand-coding javascript)