The control can be rotated, which is usually the most convenient way to work with it. It can also be translated around, and the eyes will look at the control, allowing the control to be parent constrained to something the eyes should follow.
By default, the eyes look forward and rotate in unison, as if they're looking far in the distance, and will stay locked even if the control is moved closer to the character. If the "Eyes Focused" attribute on the control handle is set to 1, the eyes will look directly at the control, and moving the control close to the eyes will cause them to cross, as if they're looking at something very close to the face. (Setting Eyes Focused to a negative value will push the eyes apart, which isn't usually wanted.)