It's the official name of the school, but it is a bit boring. The SUNY system is huge, and Buffalo having D1 athletics makes them the only one that is really distinguishable from the others.

Hasn't Buffalo had that on their Uniforms for several years?

After some research this is the first year. I thought it was on there last year too.. Guess not. 

When I first started following the MAC, I was confused by just who "Buffalo" was. I knew about SUNY, and knew there was a SUNY-Buffalo, but it initially didn't occur to me that "Buffalo" was simply "SUNY-Buffalo" without the SUNY.

http://www.buffalostate.edu/

Also, notice Buffalo State is a part of the system as well. Officially, "Buffalo State, The State University of New York."

....and UB is actually officially known as "University at Buffalo, The State University of New York."

There is also a CUNY (City University of New York) system that receives funding from the state as well.

Also, of note that Rutgers is a system as well. Officially, "Rutgers, The State University of New Jersey." The flagship, and largest, campus is in New Brunswick--and is what most people are familiar with. There are also locations in Newark and Camden. Additionally, there are public universities in NJ that are not part of the Rutgers system. For example, Rowan University in Glassboro is officially just "Rowan University" and was formerly Glassboro State College. More recently, I've noticed some use of the branding style "Rowan University: The State University of South Jersey" which is an obvious way to try to garner the same kind of respect that Rutgers gets as the state's "flagship" institution.