Is it some Altmeri honorific?
No, it means to indicate the way underlings speak about superiors when superiors are not present, especially if they are disliked.
Like you can call the boss 'his majesty', 'mr nitpick' 'bossy mc bossman', but never to his face.*
In this case it seems to indicate that Elenwen has quite a high opinion of herself.
*(Unless youre Merari cause I will do that. Im odd though and people make allowances for odd Ive found.)