(At least, that's how I've always read it. I suppose one could argue that "X considered harmful" actually should be read "X [is] considered harmful [by me]" or maybe "X [should be] considered harmful", but I don't think either of those interpretations are obvious.)
It's a very common way of titling any essay about anything related to computers that you don't like, as a way of signaling to the audience that you have in fact heard of a 'computer'.
Today it's complaining that an academic organization charges for access to papers ( http://se9book.wordpress.com/2011/01/24/acm-considered-harmf... ) or warning about a base feature in a family of languages ( http://blogs.msdn.com/b/ericlippert/archive/2008/09/22/array... ). One of these is an opinion from an unsatisfied customer ("I don't like the way ACM charges for papers and requires copyright assignment"), and the other is a pretty important point about a language from one of its designers ("Arrays don't belong in public APIs in .NET languages").