If you declare your callback as mentioned by @lex82 like
callback = "callback(item.id, arg2)"
You can call the callback method in the directive scope with object map and it would do the binding correctly. Like
scope.callback({arg2:"some value"});
without requiring for $parse. See my fiddle(console log) http://jsfiddle.net/k7czc/2/
Update: There is a small example of this in the documentation:
& or &attr - provides a way to execute an expression in the context of the parent scope. If no attr name is specified then the attribute name is assumed to be the same as the local name. Given and widget definition of scope: { localFn:'&myAttr' }, then isolate scope property localFn will point to a function wrapper for the count = count + value expression. Often it's desirable to pass data from the isolated scope via an expression and to the parent scope, this can be done by passing a map of local variable names and values into the expression wrapper fn. For example, if the expression is increment(amount) then we can specify the amount value by calling the localFn as localFn({amount: 22}).