No, the author could make that single mp3 the audio for all tracks (guitar, bass, drums, bass drum, background, etc.), so when a player misses a note, they will still hear the song.
This method is the norm when modding Guitar Hero II or III, because it would really suck to have the whole song drop out.
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Oh yeah, people do it all the time. ScoreHero.com has an intense custom song community set up, as well as FretsonFire Fan Forum for the same type of thing.
there should be an audio "penalty" when you miss a note. just leaving all the audio playing no matter what is kinda cheating, imo.
but, yes , i guess if you just wanna play along with a tune and go for a score, i see your point.