Pinguicula cyclosecta is a gorgeous plant, and can develop vibrant purple hues with enough light.
Great choice, especially for a starter Ping! This is a Mexican Pinguicula, so it has two growth states: carnivorous and succulent. The carnivorous growth state takes place during the growing season (mid-spring to mid-autumn, or there abouts), during this time the plant should be kept damp, but not wet. Keeping it moist would be okay, but please keep an eye out for root rot as Mexican Pinguicula in particular are more prone to it than other species.
During the succulent state, which takes place during the dormancy season (mid-autumn to early/mid-spring); the plant will change its leaf growth noticeably, and you only need to keep the plant lightly watered. You can forgo watering throughout this time of year, but you don't have to.
As for using sphagnum moss, I typically don't recommend it as it can retain 20x its weight in water, which is bad for Mexican Pinguicula. You can use it on the surface of the soil to help retain a little moisture, but planting the Pinguicula solely in it could be problematic. You can use a mix of peat and perlite/silica sand or a completely mineral media such as perlite, silica sand, pumice etc. I grow my Mexican Pinguicula either on pure perlite or a piece of tufa rock. You also won't need too large a pot as these plants have very shallow root systems and don't grow as big as a Venus fly trap.
I should also add that these are ideal windowsill plants, and I grow all of mine on my windowsill year-round (in England) without a problem.
If you have any other questions please feel free to ask!