Why might the artist have used the particular setting?
The artist most likely chose this setting since it is a poster trying to get people to come to the theater. At least when I think of a theater I think of the curtain as the most defining feature.
figure/ground relationships?
The figure is "on stage" directing. Although he is the only figure because of the conductor's stick thing he's holding it gives the impression of directing the action that we assume is on stage.
figure/figure relationships?
There is only one figure so there is no figure/figure relationship.
What is the artists saying with the composition?
The artist is saying the theater is fun and people should come visit. The person isn't realistic and is more like a doll in the way it bends and then there's the 2 colors inside the curtain that are presented in a fun and interesting way.
What is the artists saying with light?
The artist isn't really using light in this poster.
How might you evoke similarly without any text?
This posters design really speaks for itself, "Come visit the theater." The text helps reinforce the message but I don't think it is really needed. So I don't think anything would need to be added to evoke the same message without the text.
How might you change the mood without any text in a manner that stays true to the original artwork?
One way to change the mood would simply be to change the 2 colors in the middle. Most of the poster is neutral and most of the mood is coming right from that area.