Not sure it's something I would participate in, but I would say yes, try it. You can always shut it down if it becomes chaotic. Maybe put it in it's own section, not necessarily on the main page.
As far as it becoming abusive towards other members, we already have that often here and many times using names/clues that leave little doubt. On the one hand it may give some a place to unload issues or guilt not even related to here. Which could be beneficial to them. Delegating selective members is a good idea for that and other behavior.
We can't be responsible for how anyone will interpret or perceive some random confession. Plus, it's not like anyone is forced to read them.
Thank you, Andrew!