No, the rule applies only to their Asrai longbow. Hawk-eyed they may be, but that does not mean they can snipe at enemy characters with powerful spells bound into magic items.
Source: Warhammer: The Old World Online Rules Index
Wood Elf Realms - Frequently Asked QuestionsURL Copied!
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The Hawk-eyed Archer rule allows a Waystalker to target any enemy character it can draw a line of sight to and to target specific models within an enemy unit. Does this apply to magic items that allow them to cast a Magic Missile?URL Copied!
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Source: Official Forces of Fantasy FAQ & Errata - Version 1.1
Can a Wood Elf Realms army that includes an allied contingent place an additional wood using the Woodland Ambush rule?URL Copied!
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Yes. Note however that an allied contingent of Wood Elves taken as part of another army cannot.
Source: Official Forces of Fantasy FAQ & Errata - Version 1.1
The Bow of Loren allows a Wood Elf character to make a number of shots equal to their Attacks characteristic. How does this interact with Enchanted Arrows?URL Copied!
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When firing an Enchanted Arrow it is assumed the model is firing only once, as is the norm. Therefore, one of the shots fired from the Bow of Loren can be made using an Enchanted Arrow, the other shots are resolved using ordinary (i.e., not Enchanted) arrows.
Source: Official Forces of Fantasy FAQ & Errata - Version 1.1