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I suppose you mean that the "audiende laughing at a dramatic moment" means that the audience perceives that moment as Narm?
I'd say that if the work is a recording of a live performance, that just happens to catch the audience reaction on tape, then the narm is not In-Universe, because it's not part of the work. The work is the performance on stage and does not include how the audience reacts.
But the audience reaction can be a part of the work, for example if the work is a documentary about a drama production, and the documentary also documents how the audience reacts: "Narrator's voice: 'The actors seem to have overplayed the drama a bit, because the audience doesn't react quite as intended'". Cut to laughing spectators." In that case, I'd say the narm is In-Universe.
Just as a side note. Narm is an unintended audience reaction. For a live performance that has been done multiple times it becomes obvious where the Narm is. So if it is still around by the time they do a recording of the live performance most likely it was either put in or left in intentionally, which may fall under Bathos rather than Narm.
This signature says something else when you aren't looking at it.Daefaroth: That's a good point, but in my example with the documentary it may well be that they are consciously documenting the unintended audience reactions.
And if it's just a plain recording of a live performance, I maintain that audience reactions can't be In-Universe, even if they appear in the recording.

Say we have a recording of a stand-up act or a theatrical production, and that's primarily what gets troped on their page. If the recording captures the audience laughing at a dramatic moment and later laughing loudly at a joke, can the page in question list Narm or Funny Moments as In-Universe?