During a press conference tackling the subject of Oliver's Green Arrow photo, he denies that the image is real, reminding everyone that photoshop is a thing. "They could have put Bruce Wayne's head on that body. Has Bruce Wayne left Gotham to hang out in Star City recently? No."
The Arrowverse has played coy with the subject of Batman in past years, mentioning Wayne Tech. and Gotham a few times. This is the first actual mention of Bruce Wayne on Earth-1 though, not to mention the very loose insinuation that he could be a vigilante.
Given how integral Batman is to the DC film universe right now (you guys see the latest Justice League trailer?) it's pretty impossible to hope that Bruce would ever make his way into the Arrowverse beyond a name drop like this.
The WB had no comment about whether the Bruce Wayne on Earth 1 is in fact the caped crusader we all know and love.
Arrow airs Thursdays at 9/8 on The CW.