On the revolting students, you missed one sense of the word. Try it this way: "in revolt", in other words, rebelling against authority, which is what they're doing. It's a little unclear what they're rebelling about. They're saying it's to do with academic freedom, really freedom of speech (in other words, arguments about censorship), but, of course there may be other issues, such as poor educational standards, high costs, etc. It's not, though, to do with freedom to be educated abroad - that's not an issue (so James and his business are OK!).