How do the eggs function?
Chicken eggs are a dropped item from chickens, they drop eggs randomly. You can pick up the eggs and use them. This will throw the egg, and has a chance of spawning a chicken where it lands (not 100%).
Eggs were added in the most recent PE update.
http://minecraft.wikia.com/wiki/Egg
the eggs will not hatch on their own. They will disappear like any other dropped item.
They are items, and if you leave them alone they'll just disappear after a while like any other item left on the ground.