Well, I would definitely hesitate to use the BL as an example of how to live your life (and lose weight). They use very extreme measures on that show to lose high amounts of weight on an ongoing basis (4-6 hours of heavy exercise a day combined with extreme calorie restriction for that level of activity), and it's also becoming more evident that they use very extreme measures to cut weight for weigh-ins (deliberate dehydration, extreme diet tricks, etc). Also, a "week" on the show isn't actually 7 days - as the hush-orders for former contestants are starting to break down, a lot of the details are coming out (see
here and
here and
here and more)
So, briefly, if you were eating 1200 calories a day and working out HARD for 4+ hours each day, you're going to lose weight, but your body's going to be panicking! And when they do relax (or are forced to rehydrate), they gain weight. And, in all honesty, if you've ever been hospitalized on IV fluids, you know that it DOES cause you to bloat and retain a lot of fluids for a few days - which is going to make a major difference if you're already dehydrated as an attempt to maximize weight loss.
To answer the actual question - I think we do have a tendency to bounce weight back on for a couple reasons. A) Losing muscle mass (and just general size) and B) not changing the lifestyle - if someone is 300 pounds and eats 3000 calories a day, they might stay steady. If that same person goes "on a diet" and starts eating 1200 calories a day, their body is going to be struggling with the change and is going to both hold onto as much as it can, calorically, and breakdown both fat and muscle to survive. Which means, if you go back to eating 3000 calories, you're going to put on weight (at least in the short term) until your body starts to accept that food is no longer in "shortage".