I only agree with the "top ten worst" designation because xmas albums really can't be much other than bad, nostalgic, or both. But as far nostalgic holiday travesties go, some of the records on the Exclaim list are pretty alright.
Space in Your Face on CKMS always did a great Metal Christmas show. SIYF's online playlists are horribly out of date, but here's an example of "Christmas in Your Face" 2002.
My xmas playlist tended to have a slightly different flavour. So before xmas eve turns to xmas day, here's a little KEEW holiday nostalgia:
Korn - 'Twas the Night Before Christmas" (x-rated version)
"Santa Jaws" (I can't find the music online!)
Happy holidays (if you get any).