Hi,
After a fake academic degree scandal of Ms.Shin, a former professor at Dongguk University, is exposed, a continual coming out of celebrities’ ‘fake degree’ is following like domino effect : Ms.Yun’s confession that she hasn’t attended Ewha Univ. is also one of the case.
1) Does 'scandal' sound proper in this sentence? It should mean a socially shocking incident. Yes. But you don't really 'expose' a scandal.
2) Does 'is following like domino effect' make sense? If you mean that each one causes the next one.
3) Did I use colon right way? I think you are packing too much into one sentence.
4) Is this sentence clearly understandable? I would write it as follows. Note the tenses.
Since the reporting of the scandal about the academic degree faked by Ms.Shin, a former professor at Dongguk University, there has been a continual 'outing' of other celebrities with fake degrees, like a domino effect. Ms. Yun’s confession that she did not attend Ewha Univ. is one such case.
Best wishes, Clive