Thoughts on this 3-way wiring job
Oz wiring looks kinda weird to folk in the top half of the planet.

This seems to be an Oz equivalent of what Brits would call 2-way switches and what Americans would call 3-way switches



The "loop" connector is presumably not wired to the switch but is a provided as a convenience to save having a floating connector-block (or wire-nut).

In your case it looks like the three blacks shown at right in the diagram above have, in your photo, been connected using a "loop" terminal rather than by using a floating connector block.

It isn't clear from your photos if the rest of the your wiring's connections are consistent with this diagram.

It might be that the triple reds and triple blacks in your first photo are where some parallel (separately switched) lights branch off.