Actually the card doesn't say 'and', the card has 'but' as the conjunction. 'but' is often used to limit what has gone before: in typical usage you would have a sentance built as follows ' ....the good news...BUT. ..... the bad news...'
The card text reads that you have a choice as to which 3 types of energy the card provides. A limited rainbow if you like. But it doesn't state in the text that if provides more than a single unit of energy, picture not withstanding.
So you could choose it to be LRP and not provide the other types. This has an impact on those cards that discard particular types of energy. It opens up a variety of strategic possibilities.
BTW I'm not saying I'm right, rather that I've read the card several times and I am unable to justify its current use as a triple rainbow when you are behind based solely upon the card text. I wish I could read Japanese ! In all probability it is a triple rainbow when you are behind, I wish it was more obvious if that is the intention.