No, it's a different film even though it has the same two stars and comedy character support (Lynne Overman). The chief difference between the two films is that Her Junge Love was lensed in Technicolor, while Jungle Princess is a black and white affair. I suspect that's the reason it's only the colour one that has made it as part of the Universal Vault Collection (so far).
Ray gets to teach Dottie was "kiss" means, Lynne spends a lot of time hanging out with a chimp, and J. Carol Naish, an educated native with a hatred for all whites, arrives on their little island paradise with his crocodile worshipping followers with the intention of throwing a few people to the critters.
I purchased the Universal Vault DVD, a nice enough looking colour print of a silly tropical time waster. This kind of undemanding escapist fluff is a bit of a guilty pleasure for me, though I would never try to make a case that it is actually a good film. If you've seen one of these kinds of Lamour sarong "epics" I think you've seen them all.
I exclude, of course, John Ford's splendid The Hurricane from that generalization. Ford, photographer Bert Glennon, a superior cast and the sweepingly romantic musical score of Alfred Newman did bring a bit of poetry, I think, to the South Seas genre with that memorable production (not to mention one of the best special effects sequences ever captured on film).