Here's ONE definition of Bleeding Heart
"A person who makes an ostentatious or excessive display of pity or concern for others"
In other words bleeding hearts are phonies so it is definitely an insult. BIG TIME
Here's the other definition of Bleeding Heart
" Any of various plants belonging to the genus DICENTRA, of the fumitory family, esp D.spectabilis, a common garden plant having long, one-sided clusters of rose or red heart-shaped flowers"