Does that mean pale eyes (color) or glazed eyes (energy) or sight-dimmed eyes(ability)? I have no idea. Just for your information, the wandmaker in the following citation is a very old man with pale eyes, and he is very tired.
Also, I’d like to know if the definition of “faded eyes” varies depending on the context.
The wandmaker took the first of the wands and held it close to his faded eyes, rolling it between his knobble-knuckled fingers, flexing it slightly. (Harry Potter and the Deathly Hallows (7) [US Version p.493])