Wow! Lots of responses. Let me work through them:
@RobertF
I agree with you if there's a closed vessel involved like a jug or a wine bottle, but the drainpipe from my bath just opens into the garden somewhere near another drain in the ground. The air can return via the bathroom window. Both ends of the pipe will stay at atmospheric pressure and there'll be no pressure difference along the pipe to drive any backflow of air, in fact, there's probably a strong downward flow of air because of it being dragged along by the water. So I don't think this theory covers every case. Another comment is that even for the wine bottle, the water could leave a gap by just going down one side of the neck without spinning, and that would involve less drag on the backflowing air.
@berkeman
All over the web you can see the Coriolis thing debunked - the numbers are just too small. I think the pipes in a toilet are designed to set up a wild vortex to scrub away those klingons.
@Drakkith,
@Dale and
http://www.flowillustrator.com/fluid-dynamics/case-studies/bathtub-vortex.php
I already touched on this above. Suppose we take two identical buckets with holes in the bottom. We start the water spinning clockwise in both, but a thousand times faster in one of them than the other. After a while, I reckon the water around both holes will be seen to spin at roughly the same speed. It is definitely not the case that that the vortex in the first bucket will persistently turn at a thousand times the speed of the other. So I reckon the preexisting currents (or even the coriolis effect if the water is very, very, very still) only serve to tip the system into clockwise or anticlockwise motion, but some other explanation is required for the turning itself, and the fact that it seems to have a favourite speed for a given geometry. In that light, the web page's discussion of angular momentum misses the mark.
Another way to debunk it would be to dangle the bucket on a string. I think you'd see it turn in the opposite direction to the vortex because of an angular recoil. If I'm right, the web page would be at a loss to explain the effect. You'd need an explanation like "something actively fires the water out with a *new* angular momentum and that something pushes against the bucket." The web page blames the effect on the attempt to conserve angular momentum, but when the bucket is on a string, it's easily conserved when the bucket turns. But then again, I didn't do that experiment so it might confound me.
@Asymptotic
I only got to read page 273, but it says that it's an active area of research.
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A persistent comment above is that you don't always get a vortex. I'd elaborate on that by saying that you don't get much of a vortex when the bath is nearly full (at most a little dimple dancing around on the surface) but it goes like the clappers when the bath is nearly empty. If we characterise that by comparing the hole diameter with the depth, then the picture above shows the opposite extreme: it's like a bath with only a millimeter of water depth left.
So one necessary condition seems to be that the water is neither too deep nor too shallow. The answer must explain this. I don't think angular momentum can help.