[guided]The reason for introducing the Hilbert $A$-module structure is that the $C^*$-identity for multipliers is most naturally inherited from adjointable operators. We use the standard right Hilbert $A$-module $A_A$, whose right action is multiplication and whose inner product is the map
\begin{align*}
\langle \cdot,\cdot\rangle_A:A\times A\to A
\end{align*}
defined by
\begin{align*}
\langle x,y\rangle_A=x^*y.
\end{align*}
This inner product is linear in the second variable and satisfies $\langle x,x\rangle_A=x^*x$.
Let $(L,R)\in M(A)$. The identity $L(xa)=L(x)a$ for all $x,a\in A$ says exactly that $L$ respects the right $A$-module structure. Since $L$ is bounded by definition of double centralizer, $L$ is a bounded right $A$-module map.
To see that $L$ is adjointable, we must exhibit a bounded right $A$-module map $L^\sharp:A\to A$ satisfying
\begin{align*}
\langle Lx,y\rangle_A=\langle x,L^\sharp y\rangle_A
\end{align*}
for all $x,y\in A$. Define
\begin{align*}
L^\sharp(y):=R(y^*)^*
\end{align*}
for $y\in A$. This is the candidate forced by the compatibility identity. Indeed, applying the compatibility identity to $y^*$ and $x$ gives
\begin{align*}
y^*L(x)=R(y^*)x.
\end{align*}
Taking adjoints yields
\begin{align*}
(Lx)^*y=x^*R(y^*)^*.
\end{align*}
By the definition of the Hilbert-module inner product, this is precisely
\begin{align*}
\langle Lx,y\rangle_A=\langle x,L^\sharp y\rangle_A.
\end{align*}
Thus $L$ is adjointable and $L^*=L^\sharp$ as an adjointable operator.
Conversely, suppose $T:A\to A$ is an adjointable right Hilbert $A$-module operator. Define a map
\begin{align*}
S:A\to A
\end{align*}
by
\begin{align*}
S(x)=(T^*(x^*))^*.
\end{align*}
Since $T$ is a right $A$-module map, $T(xa)=T(x)a$ for all $x,a\in A$, which is the left centralizer identity for $T$. Since $T^*$ is also a right $A$-module map, for $x,a\in A$ we have
\begin{align*}
S(xa)=(T^*(a^*x^*))^*=(T^*(a^*)x^*)^*=x(T^*(a^*))^*=xS(a),
\end{align*}
which is the right centralizer identity for $S$. Finally, for $x,y\in A$, adjointability gives
\begin{align*}
(Ty)^*x^*=\langle Ty,x^*\rangle_A=\langle y,T^*x^*\rangle_A=y^*T^*(x^*).
\end{align*}
Taking adjoints gives
\begin{align*}
xT(y)=(T^*(x^*))^*y=S(x)y.
\end{align*}
Thus $(T,S)$ is a double centralizer. The two constructions are inverse to each other because a double centralizer $(L,R)$ is sent to $L$, and the reconstructed second component is $x\mapsto (L^\sharp(x^*))^*=R(x)$. Therefore $M(A)$ is identified bijectively with the adjointable operators on the standard Hilbert $A$-module $A$.[/guided]