There is a difference.
Travel journals are the traditional journals that a someone carries to record a trip.
Traveling (the "ing" makes the difference) journals are shared among many people, sometimes with friends, sometimes with people all over the world.
I have a traveling art journal that has been gone five years, has been in 11 countries, is back in the U.S., and on the way to me finally. I can't wait to get it back because it is not only text, but full of pictures and artwork. Some of the people in the group has uploaded pictures of their work before mailing so I could have a taste of what the journal looks like. It is FAT now! In the five years, I have worked in 13 other journals in this group, keeping each one for several months. The original group was twenty, but some dropped out or their journals were lost early on. I have been sweating since mine has been back in the U.S. because I am afraid something will happen to it before it gets to me.
I can't wait to start another one. I'd like to send one to all 50 states.
I have a second traveling journal that travels back and forth between me and a best friend. We swap it out the last week of every month.
You can see traveling journal ideas at 1001 Journals, as well as on LiveJournal groups.