I have owned a Pinguicula "Encantada" [laueana "CP2" x moctezumae] for quite a while and it has never done very well. I have always had it in a inorganic soil mix, with a small amount of John Innes or peat added. I've tried several mixes but they are all primarily inorganic. The reason for me using these is because I have read in several places that people use a mix of perlte, vermiculite, sand etc etc. A few weeks ago I decided to try something completely different - as the plant wasn't doing well so I'd got little to lose - I repotted it in Levingtons multi-purpose compost with a little added perlite. This is a peat based compost with added recycled organic matter and nutrients. To my surprise the ping has taken on a growth spurt, in fact it has grown more in the last few weeks than it has in months. I read in a post recently that Stephen (gardenofeden) also has his Mexican pings in a mulitpurpose compost - a peat free one.
This is not to say that inorganic mixes are not good in all cases - I have a gypsicola x moctezumae growing in a mix or seramis, vermiculite, perlite, sand and tufa and it grows well.