\documentclass{minimal}
\usepackage{IEEEtrantools}
\begin{document}

Standard usage:

\begin{IEEEeqnarray}{srCl}
  text & 1\cdot1 &=& 1 \\
  text & 1       &=& 1\cdot1
\end{IEEEeqnarray}

\begin{IEEEeqnarray*}{srCl}
  text & 1\cdot1 &=& 1 \\
  text & 1       &=& 1\cdot1
\end{IEEEeqnarray*}

IEEEeqnarraybox

\begin{IEEEeqnarraybox}{sl}
  text & math
\end{IEEEeqnarraybox}
\begin{equation}
  \begin{IEEEeqnarraybox}{sl}
    text & math
  \end{IEEEeqnarraybox}
\end{equation}

IEEEeqnarrayboxm

\begin{IEEEeqnarrayboxm}{sl}
  text & math
\end{IEEEeqnarrayboxm}

IEEEeqnarrayboxt

\begin{IEEEeqnarrayboxt}{sl}
  text & math
\end{IEEEeqnarrayboxt}
\begin{equation}
  \begin{IEEEeqnarrayboxt}{sl}
    text & math
  \end{IEEEeqnarrayboxt}
\end{equation}

\end{document}
