Both. It's compound word in the sense that it's multiple words joined together. Each word on its own is a Word of Power.

I think both, because od ah viing, snow hunter wing, I think thats the right order, but yeah.

one compound word

Thanks, so when I say paarthurnax (remembering there's no capitals) it's compound. 

But when I shout Paar Thur nax, it's meant to be spilt up!

Dragon names are actually given to a dragon only if they actually earn the name by doing something. But yeah, like what Paarthurnax said.