Right, an ACL is the collection of related entries (i.e. Context ACLs or Resource Group ACLs), and an ACE is the "access control entry" within an ACL. These are standard terms/abbreviations in many security systems.
I’ve seen the term "ACL" used to refer to individual entries in an Access Control grid.
Assuming that I’m not still confused (not always a safe assumption), I think it would probably make things clearer if we called an individual entry an "ACL entry" or something similar and reserved "ACL" for the grid itself since the individual entry is not a "list."