The Chaos, seems to me, to be, a direct line to that which is. The is that isn't. To Magic. Everything. It is a bypass of everything. It is stripped of culture/society, theology/religion, or moral definition. Although it borrows heavily at times. It is unrefined and undefined.
There are no laws, rules, philosophy and ethics/morals. Karma and the three fold law manifest themselves out of this chaos. As does everything else. At first I wondered if any laws would apply when borrowing from a place where their are laws. I then thought, only if one suspends disbelief in these laws themselves will they manifest. Then the chaos, and the magic from it has no laws governing it. The chaos it self is everything/nothing. It contains no type attributes, these are refined from it.
The chaos becomes refined when one attaches an influence to it. Cultural/social, religious/theological, and philosophical thoughts begin to refine, shape, and define the chaos. It separates. Like pure white light hitting a prism and reflects out the rainbow, so to does the chaos. The chaos splits and becomes everything/something/nothing. The classes of magic diverge from the others, breaking up and defining the chaos, like colors coming from light.
The chaos itself can be tapped. This in turn is/can be used/the same as tapping in to the universe. One can gain perfect oneness, the obliteration of the self, the perfect state on none existence. One can become a part of the chaos, universe, everything through the chaos/abyss. One should be really careful when tapping or entering the chaos/abyss/universe it's self. You should be anchored and aware of oneself. To hold oneself separate one should know and understand themselves. Caution. Could be used as a way to reach enlightenment.
personally, i do not follow this, but i know few things about that.
Chaos Magick is good, but all methods of magic can be used in Chaos Magic, nor can all Chaos Magic be used in other practical lines. Not to mention chaotic pragmatism where more orthodox (even chaotics) practitioners and less flexible twist their noses at us.