re: "Ah, you caught that too.
The "owl" look could be a defense mechanism - in that it might make other predators (such as mice) be afraid.
My bet however is that the "owl" appearance is a coincidence, while the "eyes" are not. The moth has evolved that look to make predators think that it sees them even though it doesn't. An animal trying to sneak up on another will usually approach from a direction where it WON'T be seen. In this case, that would lead the predator to approach from the moth's front, giving the moth a good opportunity to actually see the predator and get away.
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