It's absolutely not about Eöl, and I don't think it's about Maeglin. I think it's about Turin,
'I'm lost in the depth of his eyes
I can't flee"
He must be talking about Glaurung, if the song had been about Maeglin there would be no such line in the lyrics, cause Maeglin fell in love with a girl (was it her cousin? I don't remember her name) so it would rather stay "her eyes" in that case.
It's absolutely not about Eöl, and I don't think it's about Maeglin. I think it's about Turin, 'I'm lost in the depth of his eyes I can't flee" He must be talking about Glaurung, if the song had been about Maeglin there would be no such line in the lyrics, cause Maeglin fell in love with a girl (was it her cousin? I don't remember her name) so it would rather stay "her eyes" in that case.