I've been looking at different recipes for "buttercream" fondant, but the thing is none of them have real butter in them, just "Crisco" Are there any recipes out there with real butter in it. (So to me it doesn't make sense to call it buttercream rolled fondant,) Or is it just crisco to keep the butter fondant whiter? (shortening fats are still not butter,)
Just looking at the alternatives I've come across while doing research, anyone got ideas or recipes I've missed in google searches.

have you tried marshmallow fondant? its cheap and easy to make. and its pretty tasty too!

If you can get a hold of glycerine and gelatin in AU, try making Michele Foster's Fondant. It has real butter and milk in it. I think one of the reviews said it tasted like buttercream. Here are the recipe links (they are both the same recipe, just one has more hints and tips):

http://cakecentral.com/recipes/3663/michele-fosters-delicious-fondant

http://cakecentral.com/recipes/7446/michele-fosters-fondant

I was actually thinking about making this today. I have never made homemade fondant before so this looked good.

I love Michele Foster's Fondant--it is the only recipe I will make. I tried making marshmallow fondant in the past and it never seemed to be consistent from batch to batch--could just be me because I know a lot of cakers swear by it lol. However, I used the "updated" version which calls for 3 tablespoons of butter and glycerine; again, others use one of the two you posted. I originally found the recipe I use and it works for me so I have stuck with it. This fondant tastes wonderful as the recipe is written. If you make the chocolate version, it tastes like a tootsie roll--very delicious! I only use fondant for decorations so I have never covered a cake with it--my family and friends aren't big on fondant--they prefer their BC . You will not be disappointed with this fondant--it is delicious and easy to work with!

Which one are you exactly asking after ??

>> Rolled Buttercream [incorrectly called "Fondant"]
1 cup light corn syrup
1 cup shortening [usually crisco]
1/2 teaspoon salt  
1 teaspoon clear vanilla extract
2 pounds icing sugar

>> Rolled Fondant
7 g unflavored gelatine
1/4 cup cold water
1/2 cup glucose syrup
1 tablespoon glycerine
2 tablespoons shortening [crisco]
1 teaspoon vanilla extract
8 cups sifted icing sugar