I graduated a few years ago and they made it very clear if there were any "beach balls or noise makers" they would either cancel graduation or not let those kids graduate.
I don't see what the fuss was about though. Its high school graduation. High schoolers are immature and like to have fun. Let them have their last moment.
That is a really sad story though. You don't do that to a kid who was showing off his achievement to his family. I even waved to my friends and family as I walked across the stage. Everyone does it. That kid deserves a major public apology. That is just unacceptable.