What does the words remus lupin mean?

The Word 'Remus' comes from the story of Romulus and Remus who were raised by wolves. They then went on the build Rome, but in a fight over naming it, Romulus killed Remus.

The Word 'Lupin' comes from the Word 'lupine', meaning wolflike.

Given that Remus Lupin is a werewolf, JKR was very clever with the naming!