It glosses over it pretty quickly, but it sounds like he was charging a fee for frequency of checks for the classes. Part of the slide presentation shows that the school's policy surrounding their electronic services forbids commercial use or personal gain. Maybe that's part of the problem.

Edit: The conduct timeline makes this pretty cut and dried: http://ucouldfinish.com/conduct/ In the written statement of hearing determination (July 24, 2pm) they say specifically that he's in violation of their code by making unauthorized commercial use of their service. They then go on to talk about server loads, but the primary violation is the commercialization of their service.