Oliver Cowdery could not make sense out of scribe 2’s use of and in the original manuscript, so in 𝓟 he wrote of the instead. The reading of the original manuscript does seem quite impossible, even as a mishearing, so some reinterpretation seems necessary.
Undoubtedly, Oliver Cowdery’s emendation is correct. The phraseology “name of the X” (where X is a common noun) is quite frequent in the original text, occurring 14 other times, including these four with the same basic clausal phraseology:
No other emendation seems plausible in 1 Nephi 14:27.
Summary: Accept in 1 Nephi 14:27 Oliver Cowdery’s emendation of “the name and apostle of the Lamb” to “the name of the apostle of the Lamb”; no other emendation seems possible.