You'd also need to control for major to mitigate this.
Anecdotally, more women than men who graduated from my university in subjects with higher earning potential went on to lower paying careers in the art world and other creative fields.
Anyway, other explanations could be that the result is not real (which Hanson does discuss at the end), or that women from these colleges choose lesser-paying careers for some reason other than that they are married to rich men ... perhaps women at elite colleges 25 years ago were unusually interested in charity work. I don't think Hanson's proposed explanation is necessarily wrong, but that phrase "why don't they want us to hear about this?" really rubs me the wrong way.
Typically the woman works in some job she derives utility from (often arts, fashion, teaching or nonprofits) while the man works in finance. Their lifestyle (or even 50% of it) would be completely unsustainable on her salary alone. A rich husband enables her to pursue minimally remunerative work.