Well, this is an interesting phenom, and the fact that it's got a wikipedia page and has been written up in the Chronicle may mean it's already been coopted, but I like the concept. Basically reacting to the corporatization and cooptation of Web2.0 tech by companies like Blackboard; reminds me of the way I felt when Microsoft finally "got" the web and then killed half its promise by burying Netscape with MS Aieee.
There are already plenty of counterrevolutionary commentators, some of whom make the good point that Edupunk is not for everyone and will not really appeal to the folks who want a simple package of solutions. And there will no doubt be overextension of the metaphor, along with orthodoxy battles. Brings to mind the value of Queer Theory, which I posted about earlier.
I was not an original punk (though I just saw X play last Friday night and loved them :) but I think I'll be edupunkish, for a while anyway. Fits.