
toll
great
A colloquial expression of enthusiasm meaning that something is very good, great, or fantastic.
Das Konzert gestern Abend war wirklich toll!
The concert last night was really great!
great / mad
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great
A colloquial expression of enthusiasm meaning that something is very good, great, or fantastic.
Das Konzert gestern Abend war wirklich toll!
The concert last night was really great!

mad
An outdated or literary term for crazy, insane, or frenzied. This meaning derives from diseases such as rabies.
In seinem tollen Zorn war er zu keiner vernünftigen Aussage fähig.
In his mad rage, he was incapable of making any reasonable statement.
'Toll' means 'great' or 'fantastic' in German. It is a false friend of the English word 'toll', which refers to a fee, such as a road toll.
Wow, dein neues Kleid ist wirklich toll!
Wow, your new dress is really great!
In the meaning 'großartig' (great), 'toll' is very common, but it belongs more to colloquial language. It is a versatile and positive word for everyday situations.
Ich finde die Idee toll, am Wochenende wandern zu gehen.
I think the idea of going hiking on the weekend is great.
The meaning 'verrückt' (crazy) or 'rasend' (frenzied) is outdated and is used almost only in literary or historical texts. You can recognize it in combinations with words like 'Zorn' (rage) or 'Wut' (anger).
Der König packte ihn in tollem Zorn am Kragen.
The king seized him by the collar in mad rage.
beautiful / nice
In response to good news, both „schön“ and „toll“ are possible. „Schön“ often emphasizes personal pleasure about the experience, while „toll“ is colloquial and evaluates the thing itself more strongly as very good. Choose „schön“ for expressing pleasure and „toll“ for an enthusiastic evaluation.

Das Konzert heute Abend wird bestimmt toll.
The concert tonight is sure to be great.
Schön, dass du heute mit uns zum Konzert kommst.
It's nice that you're coming to the concert with us today.