I have both of my Shamen as Ele and have been tearing ass through lvls and quests alike; get back clone in max range for casting, don't waste mana on totems for single pulls, bolt bolt shock should kill most singlepull mobs, finish leftovers with melee + flametongue(or the ice weapon if you have it; slow effect + better dmg per hit since you'd only melee at-death).

For groups, have a hotkey set to drop stoneskin on main, stoneclaw on alt; when alt's wears off/dies, drop stoneclaw with main and stoneskin on alt(I do the 2nd manually but you could hotkey them if you want) and keep focusing on bolt/bolt/highest-dmg shock, preferably not fire as it's mostly a dot. Only use Fire Nova for really big groups that you've made sure to get a hit on them all first too, otherwise stick to Searing.

I dunno why you're only getting 40exp, I got more than that per kill; is someone besides your shamen hitting the mob? Is there a high lvl in the party? Both can drain the exp you get from the mob, and, stupid question, are your shamen partied?