CAESAR II does not use a specific piping code stress equation for VIII-2 fatigue evaluation, instead, a general 3D stress intensity is calculated at 4 points through the pipe cross section - the outside surfaces opposite each other where bending moment is maximum and the inside surfaces at these positions. Since CAESAR II provides no inclusion of a stress concentration factor, this stress is not of the peak stress sort for rigorous fatigue evaluation. This is not the stress calculation found in VIII-2.
Nor does CAESAR II offer a local hoop stress calculation to incorporate hoop stress caused by elbow bending.
CAESAR II evaluates stress in accordance with the requirements of the pre-2007 edition of VIII-2. CAESAR II does not calculate a stress that can be directly compared to those fatigue curves. Answer to question 1, then, is yes and no.
On question 2 - no.
I will see that the sentence you quote be changed.