Agreed. I've seen it used this way many times. It's similar to "Picks & Pans" from a film critic; the ones they recommend that you see are "picks" and the ones they recommend you avoid are "pans." Panj said it perfectly - "cheers" are praise and "jeers" are blame/criticism in this context.Not having come across "cheers and jeers" before, I thought I should take a look.
It seems to be common to put the two together as a compendium heading for anything that includes both praise (cheers) and blame or accusation (jeers) - usually setting itself up to be an independent and objectively robust commentary on ... well, on anything.