So what's the interpretation that will make one false and the other true?
* edited T to F
Whatever A⇔B⇔C means, surely it shouldn't allow for that.
IFF is a parity counter like XOR.
XOR counts how many bits are true. IFF is NOT of how many bits are false. (This shows why XOR is used much more than IFF, because it is cleaner.)
(a XOR false is a, and a XOR true is NOT a, aka a+1 mod 2; a IFF true is a, and a IFF false is a+1 mod 2)
I've taught and always assume ((A⇔B)⇔C). I've apparently used (A⇔B)&(B⇔C) once.