Wow! There's a lot to say about this. You guys definitely work really well together, as the art, music, dialog and gameplay all feel really cohesive. 5 songs for a game jam is incredible! The forest really feels alive, and all the little animation effects work well together. The dialog is great, and I like how informative the game is.
I felt like the progression is a little lacking, after having collected all the butterflies once, and learning exactly where the rare ones spawn every day, it just became a walking game. I kept expecting like there was going to be more. I played it a few more times to make sure I didn't miss anything. To expand the game might help that feeling, but I'm not sure it would be worth the effort. Perhaps an easier way to vary the game-play is to make the woods generation more procedural, and to allow her to walk through the woods, rather than along wide open predetermined paths. Another way could be to add puzzle elements, but again that would be a ton of work. As it is, it isn't bad, it would just be difficult to expand upon. I did end up finding the nebula butterfly with the help of the dragon in the woods: great little secret, but I'm not sure who would spend as much time as I did looking for it. I didn't catch what the text was when I found the butterfly. I kept clicking during the text scroll, which most of the time would show me the full text, but it seemed a few times, almost randomly, it would just skip to the next dialog option.
Also, what was supposed to happen at night? I only lost my butterflies and woke up the next day, but I half expected to turn into a butterfly. It seemed like you were hinting at some sort of mythical monster fight, or different style of gameplay when you warned about the nighttime.
The options menu is a bit overkill. I used the controls rebinding to map q to mouse click, but that was it. Most of the options seemed confusing, or I wasn't sure what they would do. It seems like a lot of them were for performance, but then maybe just have a single slider to change performance to turn things on and off. Then if you want, you can hide them behind an 'advanced options' button.
I think this might be one of the winning contenders.