Obviously, we can only speculate. But here's what we know:
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It was something that scared the heck out of the DS members -- particularly Jeb and Laura Bush.
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The White Hats wanted to wait until the casket was directly in front of the Bushes before presenting them the envelope.
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The envelope must have something visual for such an immediate reaction. The Bushes would give an F if it said "We have it all." They already knew that.
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Immediately after Jeb gasped in horror, he immediately turned and looked at the casket again as if thinking "Is that what happened to Dad?"
Just putting that out there.
here's the link. It never gets old: https://www.youtube.com/watch?v=TLIJ69rVtqM
This has been my head theory since a bit after I originally saw the video when it first happened. Has to be a picture, due to the quick reactions, MCtraitor was the first X, I think those envelopes showed bush Sr being the second X, two of the biggest traitors!