I don't think so. The "edit questions and answers" privilege is earned at 2,000 rep, which you should have recently hit. However, users can still propose edits to questions and answers at much lower reputation levels. Those suggested edits must be reviewed by users of higher reputation before they go live. Your edits used to require review, but now, you can make them directly. The bad news is that you no longer get the +2 rep bonus for having an edit approved.
The notifications are indeed sometimes delayed.