The toxins in butterflies mainly deter bird predators. Other insects and spiders don't seem to be affected. I'm not sure about lizards, frogs, etc. That's still quite a deterrent, though. I was reading a few weeks ago about how many caterpillars the average bird needed to feed their young through the spring and it was in the thousands!
So if they can eliminate what seems like a major predator, that still increases survival by quite a bit.