i know thats the way it works in ucc. Again to quote pete and omen, you built it with their resources etc, skills they thought you on college time so its theres. so its likely u used ms word to write docs (ucc license), ms studios to build and compile (ucc license, student license at that) etc.
As to whether the university would sue i dont know, if it was worth money to them they could, coz lets face it they’ve got alot more money for solictors. although it would want to be something like you designed a next-gen console in your final year :)