It's a boron kind of magic: A complex reaction sequence involving a skeletalrearrangement leads to 10‐dimesitylboryl‐substituted dibenzoborepin in a one‐pot transformation in good yield. The borylborepin shows remarkable photochromic properties and undergoes a bora‐Nazarov cyclization to give a deep‐blue compound with an allyl cation‐like CBC substructure.