Am I right in thinking the rainbow butterfly plant attracts all butterflies and caterpillars including the rainbow one??? Its been a long time since I did these :-( x
No, it doesn't attract all butterflies. When it is sparkling (ie still attracting the butterfly) it has a 50/50 chance to attract either the rainbow butterfly, or the butterfly which is the same colour as the caterpillar which it nurtured.
It will also only attract all colours of caterpillar whilst it is sparkling. Once the butterfly (and any twin, if you are lucky enough to get twins) has been spotted, it will not attract caterpillars or butterflies anymore. You'll get WRCs but that will be because of the supershroom, not because of the butterpillaflora :)
If the rainbow butterpillaflora is sparkling, it will attract all colors of caterpillars *except* red. (The magic of it is that it turns all Wriggly Red Caterpillars into other colors of caterpillars.)