Does it? If yes, where can I get the documentation for it... if not, then which would be the best alternative?
+1 for PCRE - Perl Compatible Regular Expression , I remembered using Mircosoft's GRETA as well.
Regular Expressions are part of the C++ extension TR1. Dinkumware, visual studio and others already have implemented this. See
Quick Start for C++ TR1 Regular Expressions
Visual C++ 2008 Feature Pack
If by standard you mean bundled with compiler, then not. But most of the other languages that bundle regex extension use pretty standard c
implementations. E.g. PCRE - Perl Compatible Regular Expression and C libraries have POSIX regex support (see man page).