I sometimes hear (particularly on this site) of hermeneutical "methods", such as the grammatico-historal approach, or literal-historical approach, or sensus plenior. These all seem to be tools or approaches that one can employ in the work of interpreting a text.
But in the past, I've been more familiar with hermeneutics as a study of how we interpret the text, and what we are doing when we do so. This is more of a philosophical endeavor, and more tightly linked with fields like epistemology and semiotics, yielding "approaches" to hermeneutics like the hermeneutical circle, horizons of understanding, the new hermeneutic, etc.
Are these both valid uses of the term? Is one more directly in the field hermeneutics, and the other an extension? Or is one a misuse of the term? In other words, are we primarily dealing with methodology or philosophy?