As mentioned in another thread, my theory is that this may well be the original title, which Brian changed for reasons yet-revealed. My guess at the reason for the name change is that "Some Things That Glitter" was a cooler-sounding name for The Cosmos Rocks than "I Loved a Butterfly". If it is indeed related to his "Butterfly" demo as heard on The Magic Years and GVH2, that supports my theory that "I Loved a Butterfly" (or just "Butterfly") is the original title.
I could be completely wrong.
It raises an interesting point, whether an artist should change the title of his/her work between releases. Here, it's the same song, nearly word for word, melody for melody, under two different names. This isn't actually the first time time this has happened in Queen-dom, though this is admittedly the most radical case:
Original Title Alternate Titles Notes
Somewhere In Time Nothing But Blue (Guitar Version) There IS a subtle bit of remixing of the
drums on NBB (GV), otherwise it's identical
Doin' Alright (Smile) Doing All Right (Queen 1) Each recording, including the version by Tim
Doing Alright (BBC) and Brian on Amigo, has different lyrics in
places, despite them being the same song
Hot Patootie Whatever Happened To The alternate title appears for the same
(not a BM-penned song, I know) Saturday Night? recording on the full cast RHS album
Flash's Theme Flash One is used for single and the other for
the album. The single even says (AKA
Brighton Rock Solo Guitar Extravagance Never called the Son And Daughter Solo.
(or Blag solo, if you will) Guitar Solo I guess he can call it whatever he wants,
but Guitar Solo sounds so mundane.