The rewards will be good for things within the theaters like free sodas and discounts on other concessions. But one commenter on Slickdeals pointed out the possibility of using these points elsewhere:
"It seemed odd that they would be able to tell that you were actually at the movie. So I tried to put the app in Cinemode before going to bed, and woke up the next morning, turned it off and got a reward. So apparently it doesn't know that you're actually at the theaters or not."