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1.
The term used to describe a facial expression, or more to the point, positioning of the eyes when munted.
There are many veriations of the Bonk-Eye, see the example below....
The JT Bonk-Eye:

Left eye pointing to the right at an angle of 32 degrees
Right eye pointing upward and protruding slightly
av BenJay 16 juni 2004
 
2.
Means a person with wonky eyes, one looking at you, one looking for you kinda thing...
Damn that girls a bonk eyed bitch! I never know if she's looking at me or looking right past me!
av Drewy2008 10 juli 2008
 
3.
one eye being straight the other being at weird angle
"is that man looking at me or looking over there?"

"he has bonkeye"

"hahaha i think i pissed my pants"
av tro23 22 oktober 2006