No they are not.
In the case of a price error, the seller is not obligated to automatically honour the incorrect price. (Although there may be occasions where the seller chooses to.)
By all accounts TRU have done exactly what they are required, which is remove the item from sale until the price is corrected.
If standard retail toy markups are applied, the cost price for Trypticon would have been somewhere near $200. Even accounting for a typical Toys R Us markup, they would be losing money for every unit sold at $70.