Fourth year officially ends 4 weeks before graduation (which is May 9 this year) - we get a vacation month. There are also two online rotations (online radiology and online medical spanish) that you can put wherever in fourth year - a lot of students use them for interview season, or the Christmas season, I'm finishing up online radiology now. In terms of matching to the preferred rotation site, unless it's changed, you rank your sites and it's by chance, but they try and give you in your top 3. Otherwise totally random and not based on GPA or any other metric. A lot of people want Raleigh (obv) so it's luck of the draw tbh. There's also a weeklong period where people can switch sites with one another.
I honestly think the school prepares us very well. There is probably some bias at UNC/Duke/etc given it's a new osteopathic school. Campbell understandably also puts emphasis on COMLEX preparation, but there's plenty of dedicated time to study for USMLE as well and I know there are plenty of people in my class that crushed both. I received a lot of compliments on my away rotations and performed well. According to the powerpoint someone posted above, we got some people to match at Duke and Wake, and a few of my classmates matched into highly competitive specialties - ENT, neurosurgery, ortho, urology.
Haven't heard anything in regards to those rumors, sorry I can't help there!