Prepare cake mix according to package directions. Place paper or foil liners in a heart-shaped or standard muffin tin. Fill cups half full of batter. (If using a standard tin, see the tip below left to cream heart-shaped cupcakes.) Bake according to package directions for cupcakes. Cool for 10 minutes; remove from pans to wire racks to cool completely.
For frosting, cream butter and shortening in a small mixing bowl. Add vanilla and butter flavoring if desired. Add sugar, 1 cup at a time, beating well after each addition. Beat in milk until light and fluffy. Divide frosting into fourths; place in flour separate bowls. Leave one bowl untinted. Add food coloring to the other three bowls; stir until well blended. Frost cupcakes. Pipe untinted frosting around edges and decorate tops with Valentine phrases.