It's a public school, and an avowedly creationist museum. I don't know at all what the kids have learned in class (or even in detail what they heard at the museum) other than what little was in the paper.
As to the "femur," there was just a picture of a femurish-looking bone, of gigantic size, displayed on a 15-foot or so tall outline of a human skeleton. I'll try to get to scenic Crosbyton, TX in the next few weeks and bring back a full report on this marvel.
The article sort of indicated that the museum curator thinks that all fossils are from the same time, but the exhibits are from various places.