The IOL images do not support the programmability features that are available in other VM images based on IOS XE, like CSR 1000v. For example, the IOL images do not support restconf or netconf. You also cannot create EEM applets to add to the event manager on the device.
IOL's normal L1 signaling mechanism is disabled. Because of that, turning OFF an IOL interface has no effect. Turning the link OFF stops forwarding packets, but there's no "link loss". From the inside of the IOL node, the interface will still be shown as UP. This behavior matches that of other node types in CML, but it may be unexpected if you have used other IOL images in the past.