I think Albany could be a good market. I just think the Devils haven't put in the effort to make it work.
Winning is a key issue with generating attendance. Feeling like the organization is committed to icing a competitive team helps people commit to being a fan. Otherwise, the fans are more in a "wait and see" mode: if the team proves to be good, more people might go later in the season.
The name is another issue. You've got years of the "River Rats" brand - through the Devils and Hurricanes. Now they have to invest in getting people to like the new name. As pointed out, the name has issues for Rangers, Bruins, Sabres and other non-Devils fans.
Community relations / outreach is a last issue. It relates to the name. With a new brand, they have to invest in generating awareness and positive feelings. As far as I know, the AHL Devils have never been particularly community friendly. I know Lowell had a contentious relationship with the Devils.
As an outsider, I think that recognizing local rivalries (Glens Falls), bringing in local players (former Union, RPI, etc.), and creating grassroots campaigns (fund raisers for local causes, support of local youth hockey) are all things I think could be improved.