I don't completely 100% understand every detail of this movie. I'm not convinced that anyone does, not even the writer/director. With that being said, I don't think you need to fully understand a movie to have a great experience with it. It is a movie unlike any other.
What are your thoughts on Donnie Darko?
(http://fight-evil.com/movies/d/donniedarko-2001/1.jpg)
I do remember at the time it was one of my more liked movies. Mainly because it was so out there, and could be seen from different perspectives... similar to what you were saying.
Though after Southland Tales it was kind of evident that Kelly was a bit of a one trick pony in terms of original content.
Jigsaw and I recently discussed this movie: