Seems like even the size of the rectangle would give hints on what it is redacting. For example "Yes" has a bigger box vs "No".
For a test in German class (my worst class), the teacher had just used tippex to remove some words and put them next to the text, and we had to fill them back in. I grabbed my ruler and measured all the sizes. There was 1 very long word, many medium sizes and a few smaller ones, but with this information and the context of the text for the first and last time I was able to get my first and last 10/10 in this class.
PNG allows ASCII numbers, so flipping all digits to 0 creates a pixel which is graphically "masked" but leaks information about the original pixel: "000" means the value was larger than 99.