FWP:
For background see S. R. Faruqi's choices. Raza presents this verse only as a variant.
For a discussion of collyrium, see {44,1}.
For a discussion of the connection that exists among smoke, wine, and intoxication, see Faruqi's discussion of {146,3x}.
This verse seems to contain too much heavily 'pre-poeticized' language, with consequently too little scope for development. I really can't think of much to say about it. It certainly does seem less effective than its published sibling, {147,1}.
Gyan Chand:
The eye of beautiful ones is selling the wine of the intoxication of coquetry; that is, through its coquetry it is creating the state of intoxication. In order to sell wine, it's necessary to call out. In the second line is a lofty level of beautiful delicacy of thought. From eating collyrium the voice gradually goes, but the poet established this very collyrium as a symbol for the voice. Collyrium depends on flame. They call the warmth and melodiousness of a voice the 'flame of the voice'. The poet established collyrium as the wave of the smoke of the flame of a voice; that is, the collyrium of the eye has depended on absorption in the lamp of the voice; thus it is an embodied voice. What kind of voice? That of the wine of coquetry-selling. That is, the collyrium of the eye is nothing more than the expression of coquetry. (361)