There is no Configuration Manager toolkit (yet). As with the previous versions of Configuration Manager and SMS you need a good log reader – unless you go the “Wally style” and use Notepad 
Configuration Manager 2012 Trace32.exe will ship with the product and can be found on the DVD in the Tools folder.
Happy reading and look forward to see brand new friends in CM2012 like
Thanks Kent. I was trying to use the SCCM 2007 trace32.exe from the toolkit. It had some difficulties with the new log format. Good to find this note!