You are exactly right in your thinking. Different drops are used to dilate eyes. Tropicamide (mydriacyl) is the most common drop and it comes in two strengths, % and %. The % will not last quite as long but it is not a large difference. Tropicamide will dilate the eyes and interfere with near focusing. Phenylephrine is often added as a second drop with mydriacyl to enhance the dilation. Phenylephrine enlarges and hastens the dilation but has no effect on focusing and usually does not prolong the dilation. Paremyd is another drop containing % hydroxyamphetamine and % tropicamide. It does not dilate the eyes as well but tends to last a shorter time period and not interfere with near focusing as much. Longer lasting drops include cyclopentolate and homatropine. They have a longer mode of action and exert significantly more interference with close vision. They are usually used for children.
As a glucocorticoid , the lipophilic structure of prednisolone allows for easy passage through the cell membrane where it then binds to its respective glucocorticoid receptor (GCR) located in the cytoplasm. Upon binding, formation of the GC/GCR complex causes dissociation of chaperone proteins from the glucocorticoid receptor enabling the GC/GCR complex to translocate inside the nucleus. This process occurs within 20 minutes of binding. Once inside the nucleus, the homodimer GC/GCR complex binds to specific DNA binding-sites known as glucocorticoid response elements (GREs) resulting in gene expression or inhibition. Complex binding to positive GREs leads to synthesis of anti-inflammatory proteins while binding to negative GREs block the transcription of inflammatory genes. 
The following adverse reactions are classified according to the following convention: very common (≥1/10), common (≥1/100 to <1/10), uncommon (≥1/1,000 to <1/100), rare (≥1/10,000 to <1/1000), very rare (<1/10,000) or not known (cannot be estimated from the available data). Within each frequency grouping, adverse reactions are presented in decreasing order of seriousness. The adverse reactions were obtained from clinical trials and post-marketing experience for MAXITROL eye drops and MAXITROL eye ointment.