This verse and the handful that follow seem to indicate a progressive deepening of understanding in direct proportion to the readers level of insight.
The "fool" mentioned in this verse makes me think of
Atu 0 The Fool. In the most straightforward sense it could represent the inexperienced beginner who is at the start of their initiatory journey. To them the Book of the Law is initially a closed book that makes little sense. Or maybe the reading goes no further than and superficial surface level. The 15 words in this verse (not including the amp.) could possibly signify that the book is initially a little like one aspect
Atu XV The Devil. It is the Eye that only sees external appearances and surface details. It may aslo be a target for 'projection' and scapegoating.
Oddly enough I can find nothing meaningful via gematria for this verse. Maybe that's the point!
I suppose there were one or two things that could be 'spun', but nothing instantly jumped out at me and caught my attention.
As Crowley points out, there could be a double meaning to this verse. The 'fool' may mean the Divine or Pure Fool. This reverses the final section of this verse that reads "& he understandeth it not." This is not no understanding or misunderstanding but rather that he understands it as NOT - LA.
This is the key that Charles Stansfeld Jones (Frater Achad) revealed to Crowley in his diary extract, Liber Thirty-One.
http://hermetic.com/achad/pdf/liber31.pdf
One of Jones mottos was, PARZIVAL, who is the Pure Fool.