Yes, you can feed it to Parametric Transformer. Though Mist Flower Corolla is a 1-star item, I won't recommend you provide it because it's cumbersome to farm it. Most of the time, cryo slimes are nearby or water sources where you can freeze. Parametric Transformer rewards aren't significant enough to compensate for time spent farming those materials, and it's better to feed them common materials than one's which require extra effort. It's better to feed materials like mint, berries, or the ones you can farm through expeditions. They're generally in abundance and won't hurt your inventory even if you feed them.