Only worked with hide="yes"

If you’re logged in as an Administrator, and your Administrator override is activated in the Eyes Only settings, then for you as an administrator, you will see everything meant only for logged out people. Turn off Admin Override and you won’t be able to see what’s meant for logged out people. Otherwise, I’ve tested the following two shortcodes on my test site to make sure, and they are working correctly for me:

[eyesonly logged=in]Only logged in can see.[/eyesonly]
[eyesonly logged=out]Only logged out can see.[/eyesonly]

If these still aren’t working for you, please let us know more about your particular WP setup to help us troubleshoot, because we can’t duplicate your problem.