Nah, the common story is a thug named Joe Chill killed him. Some origins say they were killed by a man who turned into The Joker later on, as well.
All of them have Bruce's Parents dying when he is a little boy of around 5, so the theater may not serve any purpose other than fan service to people who know the lore behind Batman's origins.
The Flying Grayson's poster itself could be just fan service, too.
Just to reiterate, though, Black Mask is an actual character in the game.