From Dark and Darker Wiki
It is pretty garbage right now. Ironmace said that now that the game is in a fairly balanced stat they're gonna try to tweak the lesser used spells/skills to be stronger, thats why they buffed Ray of Darkness and Bloodstained Blade. It might be on their radar for a buff soon. I'd like to see a longer duration and faster movespeed on the Evil Eye if nothing else, you can barely scout ahead with it in it's current state.