You're right! PEACH stands for Please Evaluate And Criticize Honestly.
Or something along those lines. It has been a while since I've seen the acronym spelled out in full, so I'm too cautious to say it with 100% certainty, but I'll give it 90% confidence.
I'm actually in the process of writing up a new set of invocations (9 out of 12 complete thus far), I may toss a link here once I have them done.