There seems to be confusion over what the commentators would do, and what the professors would do, and how the students should behave. I'm not sure myself how everyone else expects this to work, but this is how I think it would work best:
First, there five categories of users: Students, Professors, Commentators, Observers, and the Dean.
The Dean
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djbent, by merit of this being her idea as far as I can tell, is the Dean. She's the final authority in picking the students, professors, commentators and is responsible for coordinating all the participants and for establishing and explaining criteria for each. She assigns professors to the students and creates the commentary thread. She moderates the thread and handles any other administrative work involved. In short, she's the boss.
Students
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Seven willing and similarly-ranked players are selected by the Dean who have established their interest in participating as a student. These users are the ones who will actually enter the moves and play the game in a match commentated by the commentators. Each student confers privately with his assigned professor(s). The students do not participate in the commentary thread but are welcome to read it. The students do not publicly or privately ask the commentators for advice, and they do not ask other students' professors for help. They pony up the points and play, and it is their strategy that is analysed and, hopefully, improved. The students will likely receive feedback from other players on the site in the form of PMs, but are encouraged to consider this advice with the guidance of their professors.
Professors
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Professors are high-ranking players with admirable on-site records and a desire to help students improve their game. Professors are assigned to one particular student and do not communicate with the other students or other students' professors, but more than one professor may be assigned to a student per the Dean's discretion. A professor does not contribute in the commentary thread and does not ask the commentators for advice, although he is welcome to read it. A professor does not discuss his pupil's work with others except those other users who are also his student's professor (in the case of the Dean assigning two or more professors to a student).
Commentators
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Two professor-level players are picked to closely watch the game and provide prescient public commentary on the matches. These two players control the commentary thread; others do not post in that thread. These commentators are unbiased and do not favour any particular player; they do not provide advice to any of the players and simply analyse the match publically for the benefit of the observers. This commentary should be valuable information to the students and is likely to affect the outcome of the game presuming the commentary is thoughtful and insightful. Usually, this would be considered taboo, but for the sake of learning it is permitted.
Observers
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All other users who are not involved in a commentator, Dean, professor or student role who read the commentary thread and watch the game. These users do not post in the commentary thread but are welcome to send a PM to the commentators asking them to comment on particular aspects of the game that the commentators may have not discussed in depth. These users may provide their own advice to the students via PM, but harassment is unacceptable.
Is this a helpful definition of roles? If this is an ongoing event and it works, there can always be new classes with new professors/commentators/students. It may make sense for the commentators to remain from class to class to help the community get to know their personalities and help the commentators practice their analysis.