I'm calling BS, the story also said kids were sticking beer bongs in their assholes. You gotta wonder if they're just making this shit up now.
I'm sure some kids have done it as a joking reference to Steve-O's butt chug bit from Jackass however I doubt it's a desired method of drinking in an attempt to mask alcoholism and binge drinking from teachers and parents. The act of liquid shitting yourself afterwards would probably be a dead give away of what you have done.