A quick search of the hockey-l archives shows various postings put it at Cornell in the late '80s with rumors that it came from somewhere else, probably Harvard...
Here's the oldest personal testimony I could find:

Date:         Fri, 14 Feb 1992 08:44:21 -0500
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Greg ([log in to unmask]) wrote: > 3. The Black Hole Cheer. This infamous cheer has been around longer > than anybody's given it credit for. In my experience, the cheer first > surfaced in the ECAC at Harvard [...] I don't know whether the Crimson > fans thunk it up all by themselves, or imported it from the West It's something that's evolved over the years. I remember first hearing the black hole part of it while I was still close enough to go to college games (which puts it back to '83). It could have been at just about any ECAC or HE (except Merrimack and Lowell) rink. It might even have been a Div. II rink, but not likely, or one possibly the '82 NCAA (back then this wasn't a bad 4-letter word ;-) . 
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 -- Steve "Sluggo" Allen-Shinn Brown '82 GO BRUINS!!! 

-Pam Sweeney