I'm not too sure how well the red and yellow spandex will translate onto the screen, but it did seem like they were trying to establish Barry knowing how to make the material for a costume when he gave Oliver his gift.
Speaking of The Flash TV series they're developing, I wasn't sure if this was posted already, but here are the casting rumours around Iris and her father:
http://www.comicbookresources.com/?page=article&id=49531
Also, I don't know how they're going to use the whole secret identity thing. Barry seems like a pretty open guy.