The term has everything to do with skin color, but little to do with actual eye color: all Blue-Eyed Soul artists are white, but not all Blue-Eyed Soul artists have blue eyes. In fact, most don't. There have been plenty of artists to whom the term has been applied, dating back to the '60s with Dusty Springfield, The Righteous Brothers and several others. From the late 1970s through the early 2000s, the popularity of Blue-Eyed Soul declined, coinciding with the dip in popularity of standard Soul music. However, during this time, there were a small number of noteworthy artists in the genre, including Teena Marie in the 1980s and Jon B. in the 1990s, both of whom are still active in the recording industry to this day.
Beginning in the mid 2000s, Blue-Eyed Soul experienced a resurgence, partially due to the popularity of several British and European singers, including Amy Winehouse, Duffy Joss Stone and Adele. Several American singers have been part of the trend as well, including Robin Thicke and pop singer Justin Timberlake. For more information, see about.com's article on recommended Blue-Eyed Soul artists.