That got me on a little google hunt. There was a link on google books to a book titled "Florida Ethnobotany"
By Daniel F. Austin, P. Narodny Honychurch...and it said that some think the bracts are aberrant petals...and that is why they called it Nature's Mistake. Interesting!?

Here is a link that might be useful: Nature's Mistake

OK, so what appear to be petals are actually bracts that subtend the real flowers and thus the name. I think there are plenty of other plants with this flower arrangement but this one got the name.

Thanks!

B

Well, so is Cornus canadensis called nature's litle mistake?