Well, counting my attempt at an explanation, we had 5 explanations:
 
Tony said it is a mythological creature.
 
Dr. Stephen Roth said:
"A seawolf is any one of a number of species of
large, voracious fish -- including the wolffish and sea bass."
 
Mike Hatz said:
"The seawolf is an inuit or aleut (not sure which) totem for the killer
whale."
 
Larry Kingry said:
"As adopted by UAA, the Seawolf is a mythical sea creature of the indigenous
peoples of mostly southeast Alaska and the Pacific northwest."
 
Mike Machnik said:
"Since the UAA Seawolf is a fictional creature..."
 
And we even had Todd J. McCarty from UAA in on the discussion, although,
he didn't opine as to what the thing is.  He did seem to agree with the
totem thing though.
 
Now, the WCHA 1995 yearbook doesn't say, nor does the UMD media guide.
So, first I think Todd should be able to find out exactly what it is.
But so far we have:
 
4 votes for mythological/mythical/totem/fictional
1 vote for fish
1 ?
 
Any others?
 
Tony Frolik