Mark Grayson isn't Asian. The creators of the comics have established his ethnicity as something other than Asian. This is a well-defined aspect of the character's portrayal.
Mark Grayson isn't Asian in the comics. This aspect of his character has been consistently portrayed throughout the various comic storylines and depictions. There's no indication of him having Asian ethnicity.
One alternate version could be that the three little pigs are actually a team of architects. The first pig builds a modern glass house which is more about aesthetics. The big bad wolf is a building inspector who is just strict but not really 'bad'. He tries to point out the flaws in the first pig's design. The second pig builds a more traditional wooden house but with some innovative features. And the third pig builds an underground bunker - like house which is super secure.
Hard to say. To determine if it's a true story, we'd need to know more details about the origin and sources related to Jennifer Grayson. Sometimes stories are inspired by real life but have fictional elements added.