Can someone explain confessions?

All right, I know the basics: you have to have 3+ in a given menace, then you and another person confess, which gives the person receiving the confession an item they can either use or save. This increases Making Waves, which is necessary for destiny-stuff (and other things).

But… what else does this do?
Is there a difference in consequences for sending and accepting a confession?
What is it for, beyond increasing Hallowmas spirit and making waves?
Is the maximum of six confessions for each confession type, or is it six total, across all types?
What is the negative if someone reveals your confession?
What are the consequences of revealing or keeping a confession someone else shared with you?

I may come up with more questions, but these are what I have to start. Please explain this to me as if I were little more than a fortnight old… in some ways, that is closer to the truth than you may think.

I’m not sure. I played the Halloween stuff last year, but was fairly new, and don’t think I did confessions, so don’t have access to anything exciting.

There is this though:

Imgur

So, you know, next year! This game is a long-term commitment;)