What type do you prefer. What does scbc stand for? 

Smbc stands for "swiss meringue butter cream" (my personal favourite). It's very similar to imbc (Italian meringue butter cream) and not as sweat as American butter cream (ambc or abc). Instead of icing sugar and butter/ shortening is is made out of caster sugar and egg whites (heated to 160'F) and butter.

Thanks I guess i was confusing sc with sm. Either way do you have to refrigerate swiss meringue buttercream? I am using ambc and am not really liking it and want to try something new. 

Depends where you live. If it's hot where you are I recommend to refrigerate the iced cake because otherwise the bc gets very very soft. But it's not perishable like cream cheese for example so there is no need to keep it cold all the time. Think you can leave it at room temperature for a day. And it's not crusting like American buttercream. You also might need to get different food coloring due to the high fat content wilton food colour for example would tint it too well. 

This is sounding alot like what i want for my cupcakes. If you dont mind me asking what brand of food coloring do you use?

Lido soluble colours work best. But had also success using powers.