Did you make a page called news?
Have you tried it with only single quotes?
From the news 'Help'...
(optional) detailpage="pagealias" - Page to display News details in. This can either be a page alias or an id. Used to allow details to be displayed in a different template from the summary.
To see it working from the back end...
http://multiintech.com/CMSMSDemo/admin/login.php
Name: adman
Password: adman
look at the main template for how the tag is used...
look at the news template to see no {title}
look at the News page, options, to see I changed the alias to news1 then look at the other news page to see it has news as alias and some words as content that never show up and it is using the new news template...