I'll withhold judgment seeing how there are a lot of accusations with no actual evidence presented. I wouldn't be surprised if it the school had nothing to do with starting the webcam. Instead, it's entirely possible that the student opened the webcam with something like Photobooth to record/display images and the school was able to see what they were doing via a remote desktop type program. Here's an example of a school doing just that in this Frontline video (skip to 4:37):
http://www.pbs.org/wgbh/pages/frontline/digitalnation/learning/schools/how-google-saved-a-school.html
When I saw that program on TV a couple weeks ago, it didn't strike me as unusual at all. It's normal for companies (or schools) to keep their own computers communicating with admin servers for updates, management or remote assistance services. Privacy violation wasn't something that jumped out at in me when I saw that as I've always assumed that computers owned & managed by other parties are monitored.
Admins activating a webcam remotely isn't really justifiable unless it's in the pursuit of stolen gear, but keeping an eye on the software, clickstream and desktop is probably within their realm of responsibilities. They would probably be on the receiving end of "You gave my child an evil machine filled with drug recipes and pr0nogrpahy!" lawsuits if they didn't manage the systems.
Kids these days.... Can't even figure out how to boot their own thumbdrive OS to bypass that stuff. :(