Warning: Contains mentions of suicide.
This is meant to provide information about the song and the actual girl. The spreading of misinformation causes harm to people. I suggest looking at this site (1) as it provides information (+ sources) and translated chat logs.
(1) https://sites.google.com/view/roro-info/home?authuser=0
The Song
The song Ruru Suicide Show on a Livestream is mostly believed to be specifically about Roro and a tribute to her as the names are similar.
This however is false. Ruru Suicide Show on a Livestream is a song by Shinsei Kamattechan and is part of an album called Child's Medical Record. The album is about teens and children having to deal with mental health. Ruru Suicide Show on a Livestream is the opening song to the album. There was never confirmation that the song was just about Roro.
The song itself is based off multiple suicides and Ruru (character in the music video) is meant to represent the victims of depression and/or suicide, which includes Roro (the teenage girl.) While the names are similar, Ruru is meant to represent multiple people.
The song itself being know as a tribute is not the problem, but the misunderstanding that using the song in any way is. There is nothing disrespectful about using a song to vent or listen to unless it is used to mock or glamorize suicide. Making animatics, gacha videos or edit audios with this song is not wrong unless it is used to be mocking or promote suicide/depression in a positive way.
Japanese FBI
Another rumor that is associated with Roro's suicide is that the Japanese government covered it up as Roro's names was never revealed to the public. While her name was never released to the public, it was not because the government wanted to erase her identity. In Japan there are laws about a minor's privacy, they didn't release her name due to those laws and also likely because they feared it would inspire copycat suicides (look up Yukiko Syndrome). I reccomend looking at this(2).
(2) https://www.reddit.com/r/Rorochan_1999/comments/ipv4c2/a_common_metaphorical_term_that_is_taken_too/
Other
Image (3) translates to This is their first animated music video. The production was done by animation writer Rabbit MACHINE. While portraying the oppressed reality of girls and boys expressed in this song with cute characters, it expresses the cruelty hidden in it and the painful world view of those who have been cornered. (4)
(Provided by TawmanPlays comment.)
Secondly, if this song was meant to simply meant to be a tribute solely to Roro, then there wouldn't be official merch (5) (official website.)
(3) https://cdn.discordapp.com/attachments/706501175746232342/761831222921920532/unknown_2.png
(4) https://www.reddit.com/r/Rorochan_1999/comments/j839ci/about_mv_shinsei_kamattechan_rurus_suicide_show/
(5) https://shinseikamattechan.jp/product/25279
Conclusion
To sum up this post, the song is meant to be about multiple victims of suicide including Roro. Using the song is not disrespectful unless you are mocking the message or the victims. Please look into rumors before claiming it as fact.
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Ruru's Suicide Show on a Live Stream Misinformation
Non-Fiction(Warning: Contains mention of suicide.) Providing information and sources about both Ruru (Song) and Roro (actual teenage girl.)