I assume you use the canonical topology of the metric space $E$ and the subspace topology for $S$. I also assume that you use the discrete topology for $\mathbb{N}$.
Conjecture 1 is false. You don't have $S$ homeomorphic to $\mathbb{N}$ $\Rightarrow$ $S$ sortable. $\mathbb{Z}$ and $\mathbb{N}$ with the discrete topology are homeomorphic. Any function from a space with the discrete topology to any other topological space is continuous. Hence for two spaces with discrete topology to be homeomorphic, they just need to be in bijection. Any time you have a set $S$ for which $\inf(\lbrace d(x, y), (x, y) \in E^2 \rbrace) \gt 0$, the subspace topology for $S$ is exactly the discrete topology on $S$.
As a counter-example, take $\mathbb{R}$ as your ordered metric space, $\mathbb{Z}$ as $S$. $\mathbb{Z}$ is homeomorphic to $\mathbb{N}$ but not sortable.
For conjecture 2, the problem is defining "composed of". First, I suggest broadening the definition of sortable by authorizing monotone functions, not just increasing functions. If not, you can't split $\mathbb{Z}$ into two sortable sets because you need to have a minimum element in your definition of a sortable set.
The problem of defining a set as the product of other sets, in general, is that it tends to involve bijection somehow. But here, defining the object "up to a bijection" is equivalent to saying that the set is countable. Suppose you want somehow to keep the order in the definition. In that case, you must define how the order interacts with the product in general, and it tends to give an order that looks like alphabetical order, which is kind of limited. For $\mathbb{Q}$, you have a "natural" representation as the product $\mathbb{Z} \times \mathbb{Z}$ modulo an equivalency relation, but in general, it is difficult to define what is a "natural" representation without resorting to bijections. You need to precisely define "composed of" to avoid a trivial conjecture that just involves "being in bijection".
If the conjecture is "For a countable set, can it be partitioned as a finite set of sortable sets" the answer is also no. $\mathbb{Q}$ is a counter-example. It is easy to show that any sortable subsets of $\mathbb{Q}$ contain at most one accumulation point. If the conjecture were true, it would imply that $\mathbb{Q}$ has a finite number of accumulation points which is untrue.
In proposition 3, your proof assumes that the metric and order structure fits nicely together and that looking at the distance to the elements element "before" and "after" is sufficient to ensure that the balls are disjoint, which is not true in general. Take the set of $\mathbb{R}$, $K = \lbrace 0 \rbrace \cup \lbrace 2^{-n}, n \in \mathbb{N} \rbrace$. $K$ is compact since it is closed and bounded. We can now construct a pathological order on $\mathbb{R}$ that will provide a counter-example. $K$ is countable, so there is a bijection $f: K \rightarrow \mathbb{N}$. Now build the order $\lt'$ on $\mathbb{R}$ such that for all $x \in K$ and $y \in \mathbb{R} / K$, $x \lt' y$. If $x$ and $y$ are in $\mathbb{R} / K$ the natural order of $\mathbb{R}$ applies, if $x$ and $y$ are in $K$, then the order is inherited from $f$. With this new order, $K$ is sortable by construction, but $K$ is also compact.
The problem is that your order and metric structure aren't nicely connected in your definition.
I am unfamiliar with the existence of a field in mathematics studying this particular object or a similar concept. I would tend to think that this subject isn't very studied because, indeed, metric space doesn't tend to have natural order that plays well with the topological or metric structure of the space.