The information below is taken from the booklet 只此一手 no. 5, problems 1 and 2.
The sequence follows 3-4 point low approach two-space high pincer two space jump, but and deviates from the joseki.
The correct response is to atari with and then block on the inside with . The proper move for White is to defend with , but after Black connects with , Black's position is described as "thick". Black can then aim at gaining profit with either a or b.
Instead of defending at a, the sequence from to is described as overly greedy. is a tesuji, a strong counter-attack.
If attach, then , is said to be the way to break out. After , if White a, then Black b finishes the job. I think I have a beginner exercise that has this problem somewhere?
White can capture the corner with another two crawls along the second line to increase liberties, and then play at . But in the end, White will still need to fill up the liberties, so the gain by capturing the corner is "not big".
The position in BQM88 arises when White plays in place of a. White playing at a is shown in the diagram labelled Attach above.