One of my boyfriend's fraternity brothers did something similar last year. They also work with a "PNM" slideshow with added comments and he saved it to a computer in the university library

so naturally, it was forwarded to every single student.
But they weren't that negative about most of the guys and still got every single one they bid.
Another fraternity I know has an online forum, which is members only, and they post everything in there. After initiation the threads on the newly initiated guys should be deleted. But one year they forgot, and the new guys could read the entire dialogue about them during rush and pledge period. One resigned after he read it, it was THAT bad.