Aloha bdg,
Yes the butterfly mediation is wonderful. Does it have the same effects as the Small Universe? No. They are unique in that the Small Universe focuses on opening and strengthening the main front and back main channels (and some other benefits going on there too), and the Butterfly meditation, similar to the Self Concentration exercise, is a good visualization exercise as well as healing meditation.
Can you do either for yoru practice? Sure.
Much Love, Shawn