I think the output voltage will be dependant on the load. I can imagine the 220k resistor is there for safety reasons. When the night light is unplugged, the resistor will ensure that the 560nF capacitor is safely discharged. I couldn't find anything from a quick search on google but I can imagine adding parts together that this would be called a Series Capacitor Regulator?
I'm quite sure that this will drop the load through acting like an AC potential divider. It seems as if it would be equivelant to a High pass filter.
Example: If the capacitor has a reactance of 5.6kOhm (at 50Hz), and its driving a 100R load, due to this being the same as a potential divider I suspect the voltage across the load would be 5.95v Peak.
(Vin*R2)/(R1+R2) Since the capacitors reactance would be R1, that value would be 5.6k. R2 would be the load so in this example, that would be 100. The voltage in would be the peak voltage of 240v afaik, (240v*1.414 = 339.36v)
As you can imagine, as the resistance of the load varies, the output voltage will also vary.
I made a visual represenation of this circuit on the free applet: http://www.falstad.com/circuit/
Just click on File>Import
Then copy in the code below and click import
$ 1 5.0E-6 6.450009306485578 50 5.0 50
c 208 144 368 144 0 5.6E-7 -62.32904764451111
r 368 144 368 272 0 100.0
O 368 144 480 144 0
g 368 272 368 304 0
R 208 144 160 144 0 1 50.0 339.39 0.0 0.0 0.5
x 400 218 453 224 0 24 Load
x 136 97 218 103 0 24 240vAC
x 214 185 355 191 0 24 PP Capacitor
o 2 16 0 34 9.353610478917778 9.765625E-55 0 -1 out
h 3 1 0
As you can see in the waveform, the voltage across the load is 5.97v, close to what I had calculated!
Also, in your schematic the 100R resistor will just be to limit the current probably as a safety feature to keep the capacitor safe.
After having a quick search of your chip, it turns out the thing I thought was a photodiode, it actually is PIR sensor, usually used within a motion sensor. I found out that the chip operates at 5v meaning you would need to use a regulator for whatever voltage you are using for this project.
In your pictures you have shown me, I can see two Zener diodes (Possibly) so it must be an regulated supply for the chip.
I have attached a PDF file of your chip. Unfortunately its in chinese but I hope its helpful!
hs0001.pdf