Bandita, I have grown seeds of this plant from multiple sources several times over the years. I have never seen any claims that it repels any kind of insect, and there is nothing about it that suggests it would, but I have never had any plants from any source bloom in that clean yellow color, and if you have a source for that, I would do handstands. Metaphorically, anyway.
It's been a couple of decades long quest for me. The blooms of the plants from seeds called Ipomoea lobata citronella always give blooms that are a slightly less red version of the usual species. They never morph into the all yellow version in your photo. I've tried U.S. and international sources trying to get the yellow/white version advertised. Every year, I sow it, always from somewhere different. This year is the first year in about twenty I haven't. I love the plant, but I give up. That yellow one is a myth.
Isn't it?
Ipomoea lobata
Ipomoea lobata citronella, or so they say