This working was based upon Crowley's novel, "Moonchild" originally called "The Butterfly Net". The rites used were probably based off of Crowley's sexual magick techniques, however they were trying to accomplish a feat mentioned only in fiction. The reason people take them seriously is due to Kenneth Grant, but he was a little obsessive and mentally unstable, he most certainly was not a follower of Crowley's brand of Thelema.
Crowley said the following to a letter to Karl Germer (His successor of the OTO) about Jack Parsons and his Babalon working-
"Apparently Parsons or Hubbard or somebody is producing a Moonchild. I get fairly frantic when I contemplate the idiocy of these louts."
Crowley was getting to the end of his life and was worried his order and his life's work was going to be inherited by a bunch of idiots!