Not sure if it is on the loot table or not, but I'd like to post the evidence that this is the case prior to killing him a bunch of times and never seeing it.
https://web.archive.org/web/20000615...llakhazam.com/
Unfortunately, you cant see a date on that page.
Browse to web.archive.org
Search for:
https://www.allakhazam.com/
Click on the oldest page available; April 7th 2000 (Kunark was April 24th 2000)
Click on "this link" hyperlink.
Click on equipment
Click on Held Items (non-melee)
Scroll down to Eye of Innoruuk
Thank you.