He's probably checking out your beardie, or you, or the ceiling, the reflections in his water dish, you bright orange t-shirt. or his food or outside etc.. lol. They are highly perceptive and see full specturm color! And as they get older and have more interactions (especially with other lizards, they communicate A lot!

Check out Melissa Kaplan's site (the author of iguanas for dummies) to find out all the nifty bobs they are capeable of!
www.anapsid.org