  The twisted butterfly state solves the equation of motion of vacuum string
field theory in the singular limit. The finiteness of the energy density of the
solution is an important issue, but possible conformal anomaly resulting from
the twisting has prevented us from addressing this problem. We present a
description of the twisted regulated butterfly state in terms of a conformal
field theory with a vanishing central charge which consists of the ordinary bc
ghosts and a matter system with c=26. Various quantities relevant to vacuum
string field theory are computed exactly using this description. We find that
the energy density of the solution can be finite in the limit, but the
finiteness depends on the subleading structure of vacuum string field theory.
We further argue, contrary to our previous expectation, that contributions from
subleading terms in the kinetic term to the energy density can be of the same
order as the contribution from the leading term which consists of the midpoint
ghost insertion.
