>I got to thinking that if this is a common occurance at this spot it could be the reason why >someone marked it with some rock art ...
Nup. The rainbow wasn't invented untill after the bellybutton, so It can't have been the reason :)
Seriously, it's a thought. Complex motifs are supposedly found at higher vantage points, maybe places where you'd get a good view of any rainbows. Whocansay????
A bloke at work was going on about how prehistoric folks would have interpreted rainbows. It made a very welcome change from the usual topics of conversation.