As you can see the NORLabelNode pod is installed through a local version of the podspec which looks like this
That's not how the path
option works. It expects a path to the project itself, not the spec.
From the docs:
Using this option CocoaPods will assume the given folder to be the root of the Pod and will link the files directly from there in the Pods project.
If you would like to just use your spec without adding it to the master repo you can create your own repo of specs (docs). Or just place your spec in the correct folder structure in ~/.cocoapods/repos/master