There's more from the Colin Slee memo, and it's not pretty. Jim Naughton at The Lead has further commentary on the redactions in the memo. What I've read convinces me further that transparency is the way to go whenever possible, but I do understand that confidentiality is sometimes in order.
Colin Slee carried a heavy burden away from the meetings, but, he did not advocate an electoral system for choosing bishops in the Church of England. It's difficult to see how electing bishops would be worse than the process Slee describes.
UPDATE: John Chilton provides links to even less redacted versions of Colin Slee's memo at The Lead. The newly revealed material is absolutely appalling to read.