By contrast, let's look at Trent's treatment of Confession a few paragraphs later. In this case, Trent makes it absolutely clear.
saltem in voto ("at least in intention")
AND
vel sacramento vel sacramenti voto ("by EITHER the Sacrament OR the intention for the Sacrament")
"vel" vs. "aut" for "or" has the sense of the two not being mutually exclusive, in other words, one presumes that in the case of the "sacrament" one ALSO has the "votum" rather than an "either ... or" sense. That's another issue I have with the BoD reading for Baptism. If you read it as "either ... or", then you're saying that one can be justified by the laver WITHOUT also having the "votum" ... which is actually explicitly condemned later in Trent and in the subsequent Catechism.
It would have been exceedingly simple for Trent to have used the exact same language where it came to Baptism, and there would have been no doubt whatsoever.
Trent could simply have said that "justification is not possible without the laver, at least in desire" OR ... "justification is not possible without [vel] the laver [vel] the votum" ... just like it did for Confession.
And the mere fact that it didn't use this language but DIFFERENT language in the Baptism section strongly suggests that the meaning is different there than in the case of Confession.