Do the BAC-CAB identity for triple vector product have some intepretation?
No, it's not an accident. The cross product is orthogonal to each factor, so the vector has to be orthogonal to $b\times c$, hence in the plane spanned by $b$ and $c$. But it also has to be orthogonal to $a$. So, writing $$a\times(b\times c) = xb + yc$$ and dotting with $a$, you get $x(b\cdot a) + y(c\cdot a)=0$. So the answer must be some scalar multiple of the correct formula. Now you only have to check that that scalar is $1$ by substituting $a=b$ and $a=c$. Better yet, let $a$ be a unit vector in the plane spanned by $b$ and $c$ that is orthogonal to $b$.