yes led is still a lcd as said above but with led backlights instead of florescent light bulbs. generally led are better because they have less flicker to them and use less power and generates less heat. better led monitors have constant current power drivers for the led making flicker a non issue from the backlight.
generally though what you are paying for is a LCD screen that has better pixel response which reduces ghosting in games.
in the end its kind of a marking scam as OLED is really a true led but don't really see them in monitors yet but they make cell phones a lot better, there just to expensive for mainstream monitors/tvs