It took me a while too. I had to get a few of the other council members before I could get him. I think I got four of them and went back to the council of seven place and scryed for him again and it told me he was there by the axe of stone.
Eolus is the second last member to be recruited (version 1.034). If you try before - the scrying statue won't respond with the appropriate vision. Kiya
I had this trouble also. This is what worked for me: go back to the Dwarven Halls (via teleporter) then recheck the scrying statue in the Council Room. Hopefully it will change.
I had done almost all of the quests prior to going to the Council so I had no reason to go back to the Dwarven Halls (especially when your first vision shows the Dwarf council member outdoors!). I think there is some kind of trigger that you have to look for him in the Halls first.
Just a guess but it worked for me after hours of running around.