Anything you do on a 4runner is tough, takes a lot time and usually results in bloody knuckles
As for the water pump I have a 92 which is similar to a 94. AFAICT the only way to get at the water pump is to remove the timing belt which is under the timing belt cover. It seemed to me the only way to get that off was to remove the fan and fan shroud to give you enough room to work.
So in short its way more complicate than it should be. Expect send about 6 hours dealing assuming you got all the tools you need.
Also make sure if you get a replacement pump make sure its exactly the same as the one you are pulling off. Pumps changed from year to year and unless the guy behind the counter is seriously 4runner knowledgible you may get the wrong one.
Good Luck