Guerlain Rainbow Pearls is a neutral-toned, very light sheer with a semi-matte finish. It is a limited edition powder that retails for $65.00 and contains 0.88 oz.
Guerlain Rainbow Pearls Meteorites Pearls ($63.00 for 0.80 oz.) is a translucent powder that is supposed to have "six new shades" that "diffuse redness and dark spots" and minimize "areas of shadow" and "counter dullness." Per the description, it states to use it to "set make-up and revive the complexion." It seemed to neutralize some of the natural redness in my skin when applied over bare skin (maybe by 10-15%), but when I used it over foundation, the effect wasn't necessary given that the foundation was doing the heavy lifting anyway. It did more in the way of softening out my natural texture and giving my foundation a soft focus finish without being too flat or too powdery. I don't think that it did that much to "counter dullness" nor minimize "areas of shadow."
This limited edition, summer version of the famous Meteorites Pearls is more of a translucent powder that softens skin texture and the look of pores but doesn't add a lot of noticeable sparkle/shimmer. I'd say more in the vein of delicately shimmered to keep the powder from reading flat or matte on the skin but not actually shimmery or frosted in finish. The pearls yielded a good amount of powder when used with a medium-sized powder brush (I used IT's Plush Powder brush) without being too dusty in the container. It was violet-scented but the scent didn't linger noticeably after it was applied.
When it came to setting makeup, the incredibly finely-milled, silky texture of the translucent powder worked particularly well with dewier foundations without taking down the finish too much like more traditional setting powders might. It seemed to extend the life of my foundation by an hour to an hour and a half, which is a little less than a typical setting powder does for me (gets me to about 10-hour of solid wear from my base makeup).
There was a "Rainbow Pearls" that was launched a few years ago (also called Summer Edition), and the two are not the same--this year's iteration is more neutral and translucent with less sparkle/shimmer.
Each shade of Météorites Pearls begins with the same legendary combination of 3 colors which adapt to every skin tone and collectively work to beautify skin: mauve catches the light, pink refreshes and yellow counters dullness and corrects redness. These delicate and perfectly round pearls continue to be shaped by hand, with craftsmanship mastered by only 4 people in the world. Softer than ever, the new pearls allow for an even easier application and a more visible effect with every brushstroke. These precious pearls are contained in a beautiful metal tin, now marked with a new emblem of a reinterpreted rosette created with a light gradation of pink.