They have the old seer dot commands and probably a few new ones for the current version. They do NOT have GM commands for creating/deleting world objects, only Mesanna would have that as Queen of the GM/EMs.
They can do simple object creation, renaming, monster spawning up to a certain level per day, teleporting, telestorming, and other minor things like stealthing and switching invulnerable tags and dropping things into monster/npc packs.
They can teleport to a player like the old counselors could, which is why they can appear in private houses. However, they normally don't do that unless they are acting as policemen or setting up events as it is somewhat frowned upon.
Oh, and every single command they do is logged, so no, they will not create GM robes and ancient wyrms for you to play with.