Is this usage of 不 before a noun acceptable?
It's just a wordplay, in the original edition, the name of the university is 南不开大学 which is derived from 南开大学 that is famous university in China.

Some people add a "不" in the name of their favouries for fun or to show their likes or respects.

I have met these nickname in social website:

李不白(if you google 李不白 you can see his poems, this guy must be a big fan of 李白, no comments for his poems XD)

令狐不冲(令狐冲)

张小忌(张无忌, sometimes they use 小)

东门吹雪(西门吹雪)