Well, I believe first of all that the teaching depends on the instructors - I was lucky to have good teachers who taught well, but unfortunately that's a hit in miss in any institution. From what I remember - we did a few hours of theory - which was based on the textbook - Professional cooking for Canadian Chefs and again a few hours of practical cooking. Truthfully I learned certain things in school, but mostly my knowledge of cooking came from working in restaurants.
I do want to point out one important aspect about that college and that is that it is NOT recognized by the Ontario Ministry of Training, College, and Universities. Which means that when you apply for your Red Seal, you cannot do so as an apprentice, instead you must ask to challenge the test based on your hours (6000) and have worked under a Red Sealed Chef who may asses your competencies. This fact does not alter the state that Liaison College is good school. Again I've worked with graduates of George Brown and of St. Lawrence College - who were not as well trained as I and other graduates from Liaison College. One great aspect about this school is the fact that the classes are smaller, less students equals more one on one interaction.
Hope this helps, and again in my case and in the one of a good friend of mine - Liaison College - for us was the right choice. Furthermore you only get out of school as much as you are willing to give. Also, you may first want to talk to the chefs at the Liaison College you are interested in and see for yourself how they run things - and do the same for other culinary institutions.