AE is shorthand for Applied Energistics, and it is a powerful combination sorting/storage/autocrafting mod. Great mod for a variety of reasons. I mostly use it for storage/sorting.
And as for charging your tools in such a manner, yeah, you aren't doing it wrong, but you can charge the tool while in your hotbar if the cap is also in your hotbar IIRC, but you really only should do this when you have more then one tool in your hotbar that uses RF.
Many suggest AE for in field recharging with ender chests and ender pouches, but I suggest Logistic Pipes for that. That way I can also use a remote orderer in case I need something from my stockpile that I didn't bring(and unlike AE, I can grab anything from my stockpile with LP, including crafting new things while in the field with LP).
Very interesting. I'll look into AE as well as LP. In the meantime, its off to the nether for another 4XArdite hammer!
Thanks everyone for you knowledgeable and quick replies. FTB community is as impressive as the modpacks!