I also got the impression that the women had been assualted or used.
The angle of the cameras on the non-HN women made it seem more like they were being watched/judged/appearing in a Crimewatch reconstruction. i.e. creepy and suggestive that something awful had/was about to happen to them.
It might have seemed more like 'just a good night out' if they had been with friends all in the same boat (perhaps loudly complaining about how much their feet hurt, and how cold they were). Being alone and distressed... not so much.
I'm not saying that I'd assume that all women I saw alone, dishevelled at that time in the morning had been raped, but we are used to seeing awarness campaigns for sexual assault and that's what this looked like at first.
I wasn't familiar with the phrase 'walk of shame' and so, in the context of my initial impression that the women had been badly used, I found it deeply inappropriate and offensive. Even if they had had a great night, it seems daft to consider it shameful.
The subtext was (I felt) wear our over-priced clothes and you won't get raped/treated badly and have to make your disshevelled way home/to work. Instead you'll meet mr. right (or at least mr. fun) you'll be treated like a princess, have great consensual fun and the full use of his clean shower and facilites to dry and style your hair before breakfast and a taxi home.
From a more general advertising pov I also thought it advertised the need for a good winter coat more than the need of a better party dress.