Cal here from Shopify, thanks for reaching out to us. The indicators are there to allow you to make the most informed decision possible when assessing an order. If an order is marked like this, it would be a bad idea to fulfill that order in general. There are too many inconsistencies and it does appear to be a fraudulent order.
As always, this is your business and your decision, but it would be very risky. You could find yourself in a position if it is fraud, where the payment is taken back from you and the products are irrecoverable.
we receive lots of high-risk orders each day, and we simply cancel the orders and move on to spare ourselves the potential hassle of dealing with chargebacks. Shopify's risk classification mechanism is usually spot-on when it comes to high risk orders.
We've installed the "Fraud Block" app (https://apps.shopify.com/fraudblock-fraud-prevention), which automatically cancels all high-risk orders - this greatly reduces the manual work you need to do for each order, since it restocks your inventory and refunds the customer in a single step.