Jericho's surprise announcement about CM Punk was certainly a bit uncomfortable. I completely understand why some may take issue with Jericho's actions. He not only talked about Punk being straight edge due to his father's drinking, but also said he would turn Punk into an alcoholic as well.
That being said, I thought it was excellent heel work. Punk's response on Twitter is evidence of this.
What worked for me is that they were able to come up with a topic that was "serious" enough to cut the Punk character to his very core. Punk is funny, cool, sarcastic and cynical, but to get more heat on this feud you really needed him to be a bit more vulnerable. Jericho's promo tonight accomplished that.