My Abstract Algebra text is using the notation $\mathbb{Z}[1 + \sqrt{-5}]$ and calling it a "quadratic integer ring." Just to clarify, $\mathbb{Z}[1 + \sqrt{-5}]$ is simply the set
$$ \left\{ a + b(1 + \sqrt{-5}) \ | \ a, b \in \mathbb{Z} \right\}, $$
correct?
Yes. In general, $\mathbb Z[\alpha]$ denotes the set of polynomial expressions in $\alpha$ (with integer coefficients), i.e., $$ \mathbb Z[\alpha]=\Bigl\{\,\sum_{k=0}^na_k\alpha^k\Bigm| n\in\mathbb N_0; a_0,\ldots,a_n\in\mathbb Z\,\Bigr\}.$$ In your case, $\alpha^2$ can be expressed with lower degrees, hence it is not necessary to go beyond elements of the form $a+b\alpha$.