If you're in an R/S server, and you change to spectator, then rejoin either team, you lose one death from your score. If you have no deaths when you rejoin, you suddenly have 65535 deaths.
I couldn't replicate it in normal servers, so I assume it's only in R/S (even though we sometimes see 65535 deaths in normal servers, possibly related to this?). Also, I couldn't replicate it offline, so I'm also assuming it's a bug in the dedicated server.