Yeah I noticed the 2 lineman lining up with the WR's as well. I was very confused. Is that something that happens often, if at all?
I remember reading about this formation last year - it originated in high school football, and I saw the Eagles run it under Chip Kelley this past year.
The theory is that the defense has to commit to 1-1s across the field: 3 offensive players v 3 defensive players on the wings, and 5 v 5 in the middle. If the defensive linemen split out, you run a little zone-read against the 1 or 2 remaining defensive linemen, the 2 LB and the 1 DB. If the DL don't split out, you run a quick screen to whichever side you like your matchup better.
If the defense doesn't communicate and line up properly, you can get a 3 v. 2 on the quick screen. I'll see if I can find the article. I would think Mangino is showing this on purpose to get defenses to have to prepare for it, regardless of whether he will actually use it.