No, QNE is correct--it refers to standard pressure, as in setting the altimeter to 1013.25 to fly flight levels.
No, it isn't and it doesn't. The incorrect confusion of QNE with the Standard Pressure Setting is, unfortunately, widespread and perpetuated mainly by instructors who are too idle to research the facts properly. As BEagle indicated, QNE is not a pressure setting; it is expressed in feet and not in hectopascals, or millibars, or inches of mercury.