These are very matte. I can't say if they are too drying for the undereye area because I set mine with a powder and it looked very dry. It was a nice coverage but I prefer the radiant creamy concealer over this for under eyes. I'll try it again without setting it with a powder. Today I used it and primed with Oil and it looked a lot better. So if you really prep the under eye area it can work. I can't say it was drying though, if that makes sense. Just very flat/matte. It settled into my creases, but it was very minor. My undereye has permanent creases, so concealers tend to do that. Especially this time of year. I'm extremely dry.
I ended up getting mine from the Nars Melrose store, and the MUA was stating how it wasn't for undereye either. He said WOC might be able to get away with using it undereye though. Now, I'm not sure why they would be able to and others wouldn't.