Ringnecks will flash their eyes for so many reasons and it's really neat to watch. I personally cannot get enough of their eye pinning--it's just very fascinating. Both males and females will do this for a variety of reasons. While i was watching some wild ringnecks, i could not help but notice how the contrast of the flashing eyes against the green really stood out. It's almost as if they have solid yellow eyes at times. But as for what it means, i think it's their way of making expressions. We humans have the ability to show our emotions through facial expressions--ringnecks through their eyes. You know when your little green monster is angry as his eyes show it all. When they are excited to see you--their eyes show it all too. It's just their way of communicating and letting you know how they feel.
As for the eye color change--most will start to change around 7 months. When the babies are really young they will be black but as the bird starts to mature, they become yellow. So, you want to look for darker eyes.
The only thing you need to look for is the ringnecks health. If you believe your ringneck is healthy then purchase him/her. The vent, nose, and eyes should not be runny. The feathers should be well groomed and your ringneck should be responsive to your actions.
If the ringneck was well socialized it should just enjoy your company. Though some can be scared and just avoid interaction all together. If you feel you're not compatible, there is always next year or you can purchase one that can be tamed--through lots of love, hard work, and patience i might add
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As far as bluffing, check out this article here:
http://www.indianringneck.com/bluffing/
Hope this helps! Only sorry i could not get on sooner to answer your question!
Best Wishes
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IMRAN-C