E=mc^2 is usually used to find out how much energy is released/required in a given high energy reaction. There's nothing mystical about that.
On the question of beings made of pure energy, I doubt that could happen. There aren't any particles with zero mass that I can think of that could be used to make anything intelligent because intelligent things are complicated and they hang around a long time. Generally speaking, particles with zero mass travel at the speed of light and I doubt you could convince them to hang around long enough to build a sentient being out of them.
Nope. I don't think it could happen. It's an interesting thought, though.
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