I've definitely heard some downtalk if you're an ivy leager or other high tier school attending an interview at a much lower tier- the reactions automatically jump to the conclusion that this particular school may be just a safety school. However, I have yet to see any of this myself, and havn't heard too many stories of an interviewer specifically pointing out a portfolio's insignia (mine is stamped onto a leather cover, without color so its unnoticeable- perhaps yours is like this as well?). I say bring it, there's no shame in having a portfolio with your school's insignia on it- unless of course, you were from Ohio state and applying to Michigan schools and vice versa
(goes with any other rival sports states/schools)
Seriously, though, I think a school/interviewer would have to have a major inferiority complex for one's choice of portfolio to be an issue, particularly if it is from one's undergraduate institution. (Of course if you are a jackass and wave around the portfolio in your interviewer's face while coughing "Harvard" or "Cornell" all bets are off...)
