No, it isn't. It looks to me like you are trying to apply the chain rule "in reverse"- dividing by the derivative of a function of x rather than multiplying. You can't do that. If you had, say, (f(x))^2 and wanted to differentiate it, it would be 2(f(x))f'(x). But to integrate (f(x))^2, you can't just divide by f'(x). You could try dividing and multiplying by that:
\int (f(x))^2 \frac{f'(x)}{f'(x)}dx}
but then since f'(x) is a function of x, you cannot take it outside the integral.
That is NOT the same as
\frac{1}{f'(x)}\int (f(x))^2f'(x)dx= \frac{1}{3f'(x)}(f(x))^3
Did you look at the derivative of what you give?
The derivative of
\frac{-8e^2}{3x\sqrt{3}}\left(1- \frac{x^2}{4e^2}\right)^{3/2}
is
\frac{4e^2}{3x^2\sqrt{3}}\left(1- \frac{x^2}{4e^2}\right)^{3/2}- \frac{8e^2}{3x\sqrt{3}}\left(1- \frac{x^2}{4e^2}\right)^{1/2}\left(-\frac{x}{2e^2}\right)
not at all what you were trying to integrate.
The point of the substitution you mention,
sin(u)= \frac{x}{2e}
is that
\left(1- \frac{x^2}{4e^2}\right)^{1/2}
becomes
\left(1- sin^2(u)\right)^{1/2}= (cos^2(u))^{1/2}= cos(x)
and, of course,
cos(u)du= \frac{1}{2e}dx
so that
2e cos(u)du= dx
and the integral
\frac{2}{\sqrt{3}}\int \sqrt{1- \frac{x^2}{4e^2}}dx
becomes
\frac{2}{\sqrt{3}}\int (cos(u))(2e cos(u)du)= \frac{4e}{\sqrt{3}}\int cos^2(u)du
which can be integrated using the identity cos^2(u)= (1/2)(1+ cos(2u)).
That way