The consensus seems to be that, unless you have something to bake right away in which you could use the buttercream, you should freeze it. That's right: don't toss that buttercream! It will remain good in the refrigerator for 4-5 days. Alternatively, put it in an airtight container and freeze it up to 3 months. When ready to use again, take out of the freezer and place in the refrigerator overnight to thaw.
The pH scale runs from 0 to 14, with each number assigned a different color. At the bottom of the scale sits red, which represents the most acidic, and a dark blue at its opposite end represents 14 and alkalinity. In the middle zone, the pH scale becomes neutral. Milk has a pH of 6 and a neutral off-white color.
pH Scale (pdf) A measure of the degree of the acidity or the alkalinity of a solution as measured on a scale (pH scale) of 0 to 14. The midpoint of 7.0 on the pH scale represents neutrality, i.e., a neutral solution is neither acid nor alkaline. Numbers below 7.0 indicate acidity; numbers greater than 7.0 indicate alkalinity. It is important to understand that pH is a measure of intensity, and not capacity; i.e., pH indicates the intensity of alkalinity in the same way temperature tells how hot something is, but not how much heat the substance carries.