This paper is the second in a series of two. The first paper has been devoted to the detailed explanation of the mathematical formulation of the underlying theoretical framework. Specifically, the first paper shows that it is possible to construct an infinite linear ODE set, which describes a probabilistic evolution. The evolution is probabilistic because the unknowns are expectations, with appropriate initial conditions. These equations, which we name, Probabilistic Evolution Equations (PEE) are linear at the level of ODEs and initial conditions. In this paper, we first focus on the phenomenological reasoning that lead us to the derivation of PEE. Second, the aspects of the PEE construction is revisited with a focus on the spectral nature of the probabilistic evolution. Finally, we postulate fruitful avenues of research in the fields of dynamical causal modeling in human neuroimaging and effective connectivity analysis. We believe that this final section is a prime example of how the rigorous methods developed in the context of mathematical chemistry can be influential in other fields and disciplines.