I still say that the shirt was meant to reflect a smile, nothing more. They used a black shirt because black shirts tend to sell best. It is meant to be a pun of sorts on smiles or "smyles" because he is known for his smile.
No million-dollar company is stupid enough to be publically or outwardly be racist, not even by accident. The dude is reaching. WWE has one of the most diverse groups of workers and staff members out there. You can accuse them of showing favoritism, having crappy storylines, and not pushing the best men and women they have when they should but you can't just say they are racist over something like this.
If you view life through a racist lens then you will see racism everywhere. I hate to break it to you Jordan, most every day people don't think about the color of people's skin on a regular basis. Hell, if it wasn't for stuff like this, I wouldn't think about it at all. I judge by character, not color as most people do.