"Eye" is a synonym for consciousness. Consciousness is a quality of awareness, of perceiving.
Odin's eye was sacrificed at Mimir's Well, or the Well of Urd, or the Well of Destiny. Mimir's Well was located at the roots of Yggdrasil. Mimir is the Rememberer or, the Wise One. Mimir was of the Aesir, a god who perceived all things, because he had partaken of the waters at the roots of Yggdrasil. Odin's eye is preserved by these waters.
Mimir was killed and beheaded in Aesir-Vanir war. Odin took his head, applied herbs to it, sang words to it, and took it to the well, placing it in the waters with his eye. In times of need he consulted the head.
The well's waters at the roots of Yggdrasil are a good parallel to the primordial waters of Chaos. This wisdom seems to spring forth from an animating force that sees all. Perceives all.
If you've been following this blog and podcast, you know in my experience a Goat took it's face off, revealing a darkness. A primordial darkness. Days later in dream, my right eye fell out. I knew no Norse Mythology then.
To say my consciousness has been altered by my magical pursuits is the understatement of the year. My entire life has been thrown into upheaval. This is not fun, nor a game. From this point out I desperately need a guide for present actions.