Wow, thank you guys for the great answers.
I view the situation as:
Alkenes = cis / trans but not R/S. no optical activity
Allenes = no cis / trans properties due to 90 degree angle but they can have R/S as well as optical activity
Is that correct?
Also, I assume that allenes and alkenes should be treated the same for the 2^n isomers rule. One simply has R/S while the other is cis/trans. Correct?