In general, an effective approach to a known problem is of immediate use - just because you chose an obscure detail is no reason not to make your work available for interview purposes. Most open source license impinge a compulsory exposure clause, Creative Commons has brought the idea of Open Source several full steps ahead - I like the idea of posting the code on Google code, you can determine your own wishes for the code ( no ? ) thus just make that statement in the comments ... then post it.
An internet friend of mine who taught at GMU and holds degrees in the field as well as working a full career in the field will tell you - the interviewers are rarely accomplished programmers, academic or otherwise. Most of their questions are of the 'trick' style, intended to get them through the interview. Your decision what to do with the code should focus on making your work and the design decisions available to someone who actually knows how to program somewhat. Thus, comment the design decisions - show at least enough of the code such that if it ever is inspected potential employers can see what your level of expertise is. Don't hide here, if you are level three of seven - they need to know that.
The strange and hidden factor is that people who make licenses necessary won't bother to read the license. Note also the root word of license is lice. See Snake Oil FAQ for a discussion of the matter. If you have not worked in a commercial shop, I suggest your code has no proprietary issues. Further, note that much of actual employment consists of "get my friend a job" - it is rare that someone who finished academic training gets hired directly consequent to deep, accomplished fluency in trade craft. I have a commercial mailing house that could pump 10,000 resume's a day, so what's the point? Self publishing is an interesting approach, now with the net a pubescent novice can compete with Planetary Powerhouses - see http://www.tinaja.com/glib/casagpat.pdf to correctly identify where your publishing decision actually splits.
Mostly, focus on not wasting thousands of dollars on the resume thing.