Although trashing multiple programmes could well be devastating, actually pulling it off with Information Overload on its own is difficult. Firstly, you need the runner to be floating tags - multiple tags, ideally, since the Runner gets to decide what gets trashed - so before you rez, you'll need to have drawn the runner over tagging ice like Draven, Gutenberg, or Bandwidth. Giving a tag with Information Overload itself will be very expensive, what with the 6 rez cost and a base trace strength of only one. Finally, a 4-strength sentry dies so hard to Net-Ready Mimic it's not even funny.
The only way I can see to make Information Overload useful is with a big nasty Midseasons. (Or I suppose with multiple City Surveillances firing over a couple of turns, a la NEARPADs). Get the runner floating 7, 8, 9 tags and all of a sudden IO is very scary indeed.