Other good Wikipedia contributors support these organizers both online and at their university. I appreciate them doing the work to both draft this grant request and actually organize Wikipedia events at their school. Here are some of my personal perspectives on this proposal:
This group, the Wikipedia Connection, has more than a year of experience organizing meetups on campus
The organizers have managed instances of the Wikipedia Education Program, and are one of the few successful examples of a university student group Wikipedia meetup. This is a model to encourage.
AddisWang and SuperHamster are both super-Wikimedians. They know Wikipedia's rule sets and Wikimedia community culture. They are proper Wikipedia contributors who are fit to be public representatives of the Wikimedia community.
The amount of money they are requesting is modest considering the projects they propose to do.
The project as proposed is likely to succeed, and aside from that, is unlikely to go wrong in any way. This is conservative Wikipedia outreach thoughtfully matched and made locally relevant to the tastes of students at this university.