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Is there a name for the element Tony Stark rediscovered during Iron Man 2.? And is it being actively and currently used to power all his suits including the latest nano tech bleeding edge armor mark 50?

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Badassium

This can be seen in Marvel's The Avengers Prelude: Fury's Big Week Volume 8:

Marvel's The Avengers Prelude: Fury's Big Week_ Volume 8 panel

Fury: He's working on a patent for "Badassium," but has encountered several bureaucratic obstacles.

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    Meh, even he is on lost position fighting the IUPAC ;) – Mithoron Jan 20 at 23:05
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Is there a name for the element Tony Stark rediscovered during Iron Man 2.

No, it's never named in the movies. According to the novelization of Iron Man 2 it's Vibranium but....

this has since been dismissed by Captain America: The First Avenger (released a year later), which shows that Vibranium already existed in the 1940s.

Screenrant

..and so could not have been reinvented/discovered by Tony Stark

And is it being actively and currently used to power all his suits including the latest nano tech bleeding edge armor mark 50?

It's the basis for the Arc Reactor which powers not only all of Tony's suits but also War Machine, Rescue and the other Iron Legion droids as well as Stark Tower.

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