Clicked the wrong button again. Here's the answer...
No, it's not like oops. It expresses surprise. "Peter's with Julia now." "Nanu! Isn't he gay?" For oops, say "Ups" which may come out as "Hups" with a short "closed" u. "Hups, Verzeihung." It's a slight bit old-fashioned. I would think it is probably not cool enough for many teenagers. In my world of middle-class young adults it's perfectly ok to use it. I find it a useful word.