It's supposed to be able to, but it never comes up when I activate Rod.

lol, this is the 3rd thread created about this on the same day.

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Not only that, but this isn't even the right section to post this in...

Eerie handles the beta cards, but he only checks his own little section that is dedicated to beta cards. but you don't need to post this there, because it has already, and the Eye of Timaeus isn't supposed to be searched anyways, because of the wording of Rod and Timaeus. It has only just been translated, and doesn't have proper Konami English text yet, but currently it's been worked out that it doesn't work with Timaeus because Timaeus lists "Dark Magician" specifically, whereas Rod lists the Arche-type of Dark Magician.
Sounds confusing, but at the moment, the wikia says it DOESN'T work with Timaeus, and we have to go with that, until it says otherwise.

Please use the search button first next time, and check to make sure you are posting in the right section.

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I apologize. I thought this was the section, and I thought it was weird that I didn't see a thread for this mishap. My laptop/internet is acting up, and its difficult enough to post much less do a search, and I wanted this to get fixed asap. xD