itit49, congratulations on having a wife with a real hot ass, and willing to show it to people. Just my humble opinion - she might just be an innocent wife that has no clue that she is showing more of her body than what is standard for a wife. But I think it very likely that she is VERY aware of what she is flaunting. She managed to get your "approval" for wearing the pants that show her butt and panties off, you busted her "accidentally" showing her tits and nipples to her co-workers and she acted all mortified, and every day she likely thinks about what she can wear to work to get the sexual attention of her male co-workers. Perhaps she just wants to feel pretty and noticed, or perhaps she dreams of getting banged hard over her desk by Tom and Paul without you knowing. Anyway, you asked

What do YOU think?
I sort of recall seeing slacks nearly this see-through at work, but not quite. Usually there are at least some pockets in the back. Mostly it's the younger single girls that wear something a tad too revealing to my office, but what parent hasn't told their daughter, "you're dressed like a sl*t." What intrigues me more are the wives that wear something just a little more revealing than the norm. I've seen women wear white skirts that reveal their white panties underneath. My favorite was on an attractive blonde MILF because they were real tight IN FRONT, and as she walked toward me down the hall, I could see most of the front of her panties. I especially liked the way that her panty waistband dipped down just slightly in the front.
There is a women where I work that might be about sixty, not really attractive but not unattractive, who quite often wears casual clothes that are just a little bit tight or see-through. Nothing scandelous, just tops that clearly show off her bra through it, white denim slacks that show off the outline of her panties, shirts that are a little tight over her tits, tops that scoop down too much when she leans over. No one outfit is very bad, it's the quantity of outfits that are tight or show flesh.