From the UML 2.1 superstructure specification: "The semantics of activities is based on token flow. By flow, we mean that the execution of one node affects, and is
affected by, the execution of other nodes, and such dependencies are represented by edges in the activity diagram. A token
contains an object, datum, or locus of control, and is present in the activity diagram at a particular node. Each token is
distinct from any other, even if it contains the same value as another. A node may begin execution when specified
conditions on its input tokens are satisfied; the conditions depend on the kind of node. When a node begins execution,
tokens are accepted from some or all of its input edges and a token is placed on the node. When a node completes
execution, a token is removed from the node and tokens are offered to some or all of its output edges. See later in this sub
clause for more about how tokens are managed."
You might also see:
http://www.jot.fm/issues/issue_2003_11/column1/http://hegdeprashanth.wordpress.com/2007/06/23/uml-activity-diagrams-101/http://www.disi.unige.it/person/ReggioG/ISII04WWW/ActivityDiagrams.ppt#326,4,Some definitions
I think of it a control token (technically, there are multiple tokens that are created and destroyed) as something one node passes to another (like a "hot potato" in the game). Whichever node has the control token is active. I can think of it as a kind of an abstract "thing"but maybe think of it as a control "object." This makes sense to me in an analogous sense because I do dataflow programming.
In any case, you don't really need to understand control tokens per se to understand activity diagrams at the design level. You do have to understand how control flows in the diagram from node to node.
The details of how tokens work are available in the UML 2.1.2 superstructure specification....
Paul