Put on rubber gloves. Knock off as much dirt and corrosion from the aluminum as possible, using a wire brush.
Clean the damaged spot on the aluminum pool with acetone and steel wool. Rinse off the spot with a wet sponge.
Combine equal parts of epoxy resin and hardener in a bowl, or use the ratio suggested by the manufacturer of the cold-weld kit. Mix together with a plastic putty knife.
Spread the cold-weld mixture over the damaged area on the aluminum pool wall. Let it harden between five and six hours.
Monitor the hole thereafter to ensure that no water is leaking from it or that it doesn't split apart again.