Before revision:  Spectra of random directed networks, where entries are completely un-correlated (\tau=0) show circular distribution with delocalized eigenvectors, where non-random networks with correlated entries have localized eigenvectors.
After revision:  Spectra of random networks, with completely uncorrelated entries show a circular distribution with delocalized eigenvectors, where non-random networks with correlated entries have localized eigenvectors.