That is exactly how I understand it at the moment. And depending on the material, it would be a somewhat valid complaint, if the report included the material without prior warning. Though, not valid enough to call CoC on this, IMHO.
From the little we know the "material" in question would be photoshops made to harass Limor, made by someone at sparkfun. So it would be weird for sparkfun to complain , given the content originated with one of their employees. (Allegedly)
It would only be at all valid if it was forwarded to employees who weren’t in a customer facing role.
Saying that you’re required to give a content warning to an account manager for material related to your business relationship puts the burden of responsibility onto the victim. Dealing with the psychological impact is the responsibility of their employer, not the customer.