If you are looking for another schadenfreude experience, I recommend Confessions of a Teel Idol (also on VH1). It stars Christopher Atkins (Blue Lagoon), Jeremy Jackson (Baywatch), Adrian Zmed (TJ Hooker) and Jamie Walters (90210) among others of their ilk.
They have been dragged by Scott Baio on the show to go through a sort of makeover to get them back into acting. They put them through all sorts of humiliating tasks to bring them back down to Earth to let them know they are starting from the very bottom.
Without the relationship drama of Tool Academy, I like this show. You should definitely tune in.