I think its more likely that this is non-canon to the main Batman timeline set out in the New 52, granted there was the Batman Beyond suit in the latest issue of Snyder and Capullo's Batman but that doesn't mean we'll see Terry McGinnis wearing the cowl in the main timeline in my opinion.
This series is most likely going to fill the void between The New Batman Adventures and Batman Beyond animated series and subsequent comic spin offs. It makes sense for this to be the case as in the Batman Beyond show there was no real explanation of what the hell happened between TNBA and BB except for why Bruce retired from the role of Batman, the Batman Beyond: Hush arc somewhat touched upon events leading to Dick and Bruce's falling out but again left a lot of questions. I for one always wanted to know what happened in the timeframe between TNBA and Batman Beyond, I imagine a great many others did too. I think this will be a good test of Higgins ability as a writer, the audience already knows the ending (Bruce falls out with everyone, goes it alone etc) so it will be interesting to see how he keeps readers hooked throughout as the story unfolds.