No, it did not. Evidently Harvard isn't offended by espionage per se, but by less significant kinds of misrepresentation:
Harvard University has revoked a degree in public administration it gave to a man who turned out to be a Russian spy living in Massachusetts under a stolen Canadian identity.
Andrey Bezrukov, who went by the name of Donald Heathfield while in the U.S., was one of 10 Russian agents arrested June 27 and deported as part of a spy swap with Moscow.
Harvard spokesman Doug Gavel said Friday the John F. Kennedy School of Government stripped Bezrukov of the master's degree for violating its policy on misrepresentation in his application.
Too bad for Andrey Bezrukov. No football weekend alumni tailgate parties for him!
p.s. - Regarding the Venona project, there is a piece of historical trivia that I thought everyone who has ever gone to the National Foreign Affairs Training Center, located at what was formerly the U.S. Army installation known as Arlington Hall, already knew, but which I have learned many of them do not know.
The original building on the NFATC campus, now called the Old Main Building, was where the U.S. Army Signals Intelligence Service broke German and Japanese military codes during World War II, and decrypted Soviet intelligence messages in the 1940s and 1950s. See the chapter on Arlington Hall in this guide to Washington area military intelligence history, From Coeds to Codewords.
The next time you walk around the NFATC campus, give a thought to the generations of linguists and cryptanalysts (like this guy) who worked there in anonymity for 47 years providing a vital national security service.