The Welshman was sent off by referee Brian Colvin after headbutting James Fowler following a tackle on him by the Killie player 11 minutes from time.
It was a rather unsavoury end to an absorbing contest in which Inverness took a seventh minute lead through Andrew Shinnie, only for Manual Pascali to head home the visitors' equaliser a minute into stoppage time at the end of the first half.
Danny Racchi also missed a penalty for Kilmarnock, while goalkeeper Cammy Bell made an outstanding save at the end to deny Caley Thistle substitute Nick Ross.
Butcher was happy with his side's display as they secured their second consecutive draw of the season, but not with Tudur Jones dismissal.
He said: "I've had a few words with him. I've certainly never seen him do that before.
"However, it solves a problem for me next week because Owain will be suspended, but Richie Foran is returning from a ban.
"It was just a rush of blood to the head from Owain. Fortunately, the boys dug in and in the end I'm delighted with a point.
"We could have won the game, yet we could have lost it."
Kilmarnock boss Kenny Shiels was once again left frustrated at his side's lack of cutting edge as they too had to settle for a point for the second time this campaign.
The visitors' cause, however, was not helped by first-half injuries to attacking players Gary Harkins and James Dayton.
Shiels said: "Both of them could potentially be long term.
"James has hurt his knee and we won't know how bad it is until the swelling goes down.
"Gary's hit the back of his head, so you are possibly looking at two weeks out for him if it is a concussion.
"I thought for the first 20 minutes we were still on the bus, but after we made a couple of changes within the team it helped to alter our style of play.
"I felt we dominated the game for long periods, but we couldn't really create chances and we are going to really suffer one of these days because of that.
"However, the boys deserve credit because they were up this morning at 6am and put in a great shift."
