The only items NOT affected by runic tools are those that use Peerless ingredients.
Since the Twinkling only requires one of the mining gems, its effects stack with a runic tool. I've made plenty of them with runic tools.
Most of the bows worth crafting are the "Artifact level" bows, that require the Peerless ingredients, liek the night reaper & mischief maker.
There are, however, many times more Smith recipes than bow recipes, and only a very few of those recipes are "Craftable artifacts"