I always start using medium-thick flood icing. Between 15 and 20 second.
Make a white dot on some waxed paper.
Add a dot of color for the iris.
There. Let it settle for a moment.
Add a black dot for a pupil.
Get your handy-dandy boo-boo stick (or a toothpick...but if you don't have a boo-boo stick, you need to get one. Or a dozen. www.karenscookies.net) ...and add a twinkle to your eye.
And there you have it:
Googly eyes for all occasions. I do not let my googly eyes dry between steps because I like them to be flat.
I have never had a problem with bleeding. So far.
But you should make lots of eyes and store them in containers with lids so your kids don't scatter them all over your kitchen and you're finding googly eyes under the stove a year later. Lids. Can't stress it enough.
Anywhoo, that's all for now.