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Were those funds put into an account in son's name with you both as custodians or was this just an account that you both set up that was intended to help son pay for college later on?
Ok, then if this wasn't specifically gifted to son by both of you, then it would be considered a marital asset and ex would have no legal right to cash it out and use the entire proceeds of the fund for herself. Your recourse here would be to file a small claims court suit against her for breach of contract for half the money because presumably the agreement was that the money was for son's education, and if not, then it would go back to both of you.
You are very welcome. Glad to help any time. And depending on what state you are in, this might be under the limit for small claims court for a breach of contract action so you wouldn't need an attorney to represent you..