Adding -debugx to the Incubation.exe starts it in a hidden mode with additional options.

"C:\Program Files (x86)\GOG Galaxy\Games\Battle Isle Incubation\Incubation.exe" -debugx

https://i.imgur.com/3PFPnGl.png

If some one finds out how the Librarytool works, please message me. It would be interesting to know whether this tool can be used to edit textures located in lib files (WorldSet folders).