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When you watch that clip, you get a ton of suggestions, including many tutorials. One of them points to Andrew Kramer... Yoda says: "Tutorial watch, you must!" and perhaps he'd also say: "Mysterious the powers of the Internet are."
Here's a subtle hint. Masking, Blend Modes, more than one layer in the project, a source for the black goo, and tracking.
You track the shot, apply the track to a mask layer to isolate the eyeball, then create the flowing black goo with a fractal, or a particle system, or by simply filming ink in water. Scale size track and blend to taste.
Figure out how to do it in Photoshop and then "the technique apply to After Effects you will."
Where did you find these suggestions/tutorials Rick?
Nevermind, I found them on the right side! Thanks again for all your help!
I saw a guy with black eyes like that once. Scary, he was.