What can't make sense is a /static/ "volatile const" which is /defined/ locally, rather than just declared.
The code in question sounds well-defined (but probably poor style) to me.
It is never OK to access a qualified object through an unqualified pointer, but my understanding is that accessing an unqualified object through a qualified pointer is well-defined and that the usual qualifier rules apply to that access.
David, is your "can't make sense" backed up by a standard? There is no "lying to the compiler", there is only conforming and non-conforming code.
John