Hi Drearyweather. If only life were that simple. Sadly, for many, they only found out about the negative comments made about them months or years later. I personally have been on "review committees" that review such forms; I've personally seen forms come through with dire character comments - but strangely the grade was "D - Poor", preventing the Service Committee from having to confront the individual. Nevertheless, that data is held on file - regardless of the accuracy.
For clarity about what data is held on the new Publisher ID system, it is significant that S-21 data (name | DOB | baptism | phone | email | service record | "OS/anointed") is going to be held regardless of signed consent. The signed consent if for additional data, such as on this form, to be stored about you.
PS. About the CO or branch responding to negative reports: they don't. In one case, myself and the other brother reviewing the forms were shocked by what one Service Committee wrote about a sister who we knew well. This brother, who was in Special Full Time Service, was so moved that he contacted the CO. The CO said "it's nothing to do with me - it's a local congregation issue". Since all COs are on annual review, they don't want to rock the boat with local bodies of elders; they don't want to get their hands dirty unless absolutely necessary. Sad but true.