That is the weirdest wiring diagram I've seen! Would expect the (busy) switch to drop out the tone which is not required but they both seem to be always in circuit, the switch only selects the PU hot wires.
There is something odd, there seems to be no hot connection to the neck volume. It is marked White like the bridge vol, but nothing connects to it. - I think there is a missing connection on the drawing. The Blue loom has 4 wires coming from the switch, but only 3 going to the Volumes, (2 to vol grounds and 1 to Bridge vol hot), I presume this is only an error on the drawing. But both tones seem to be always in circuit. Never understood why 2 tones are needed on a passive bass, active I can understand.