This name is a synonym of Paphiopedilum insigne (Wall. ex Lindl.) Pfitzer.
The record derives from WCSP
(data supplied on 2012-03-23)
which reports it as a synonym (record 464762) with original publication details: Monogr. Cypriped. 64 1888.
This name record (from WCSP) was not included in version 1 of The Plant List. It is possible the same name was included from a different data source, to check this you can search for Cypripedium insigne in version 1 of The Plant List.