The Lost University site has just been updated with the following post.
Hundreds Witness Unexplained Phenomenon
At approximately 11:59 p.m. last night, Campus Security received hundreds of calls from students, faculty, and other members of the community reporting an unexplained bright light coupled with and an ear-piercing noise. Several calls also mentioned a slight nose bleed following the event. Campus Security insists that there is no cause for alarm as it appears to be an isolated incident. Health officials will be available to answer any questions between 8 a.m. - 4 p.m. today in the quad.
Source: ABC