Bore Butter, Wonder Lube, Wonder Lube 1000... all the same thing basically is a wax compound possibly sold, at least endorsed by Thompson Center I believe. It is a barrel treatment they claim. Remember the old term of seasoning metal. Seasoning your Grandma's fry pan. That's where you let a coating of oils build up on the metal. That acts as a no stick surface. Great for fry pans, lousy for firearms.
In the old days, when metals were not what they are today, the inside of the barrel was allowed to season. This was so the old black powder would not stick to it as much, it cleaned up easier, and kept the barrel from rusting. That is hardly the case today with all the barrel treatment products and gun oil out there on the market.
Bore Butter is also used as a conical lube, and a patch lube when shooting ball. It works real good there. People who protect the inside of their rifle barrels with Bore Butter are technically waxing the barrel. Like your car. No water, no oxygen or air on the metal surface... No rust. The problem with Bore Butter used like that is, if you apply it wrong, and that is easy to do, your going to have rust in your barrel.
Your triumph is high quality steel. You should treat it as such. As for the water to clean with. Water is still in a lot of cases the best cleaner for a muzzle loader. You flush the fouling out of the bore. Also many products will clean up with just water. But you must dry the bore of the barrel before you apply your coating of gun oil. Many do this by running a alcohol patch through them, then some dry patches. Others run a WD-40 patch which also displaces water (hence WD).
The main thing is bore butter will not help your rifle. You can clean it with solvent if you wish to spend the money. I use a simple house hold cleaner like dish soap water, 409, Simple Green, Windex, alcohol, and leave the solvent to remove lead, plastic, and copper build up from time to time.
Use what ever you feel comfortable using.