I think people who paid for a ticket and didn't get to see the game have every right to be bummed or disappointed.
I also think the University has every right to not offer a refund. At the end of the day, they still have to pay the people who worked the game. By rescheduling the game and still accepting those same tickets they are actually going to lose money in that aspect(they wont due to double food/more souvenirs and what not).
I think the University is handling it like any business should. Does it suck for people who spent all the money to come out, of course it does. That doesnt mean the university is in the wrong.
Its a crappy situation that happened. I honestly think all parties involved handled it the best they could. No one will ever be fully happy.