I don't know whether this is interesting for you, but when I started to look at functional iteration I did this with focus on powerseries and their evolution under iteration. Naturally this leads to a notation in matrices & matrix-powers, I learned later that such matrices are called "Carleman matrix" and are well known in the math-community. A function, having a power series, can be associated by such a Carleman matrix (simply containing the coefficients of the power series and their powers), and functional iteration then simply by powers of that Carleman matrices.
Fractional iteration means then fractional powers of that matrices and this leads to the concept of diagonalization, such that if $\mathcal C$ is the Carleman-matrix for a function $f(x)$, say $f(x) = 2^x - 1 = \exp(\ln(2) \cdot x)-1$ and by diagonalization $\mathcal C = \mathcal M \cdot \mathcal D \cdot \mathcal M^{-1}$ with $\mathcal D$ diagonal, then $\mathcal M$ is the Carlemanmatrix of the Schroederfunction, and $\mathcal M^{-1} $ the Carlemanmatrix of the inverse Schroeder-function.
This must all be a bit more explained, but after the basic matrix-notation for the powerseries operations it becomes much simple and intuitive.
I've made a couple of essays on this problem:
introduction this explains in length & broadth the matrix-notation for the powerseries operations with some examples, when I wrote this I even didn't know that the diagonalization would represent the Schroeder-mechanism, so although chap 4.3 shows a relevant example to explain this, the term "Schroeder function" is not in there at all
technical ecplanation of diagonalization of triangular Carlemanmatrix for the function $f=b^x-1$ where $0 \lt \ln(b) \lt \exp(1)$ and thus $f()$ is suitable for application of the Schroederfunction. There are also explicite decompositions of the coefficients of the Schroederfunction which you would find nowhere else.
If this is already helpful enough (or otherwise completely uninteresting) I'd like to leave this answer as it is for the moment to avoid needless typing-typing-typing re-explanations. If there is something more to the point, and some more explanations were helpful, please note about it in a comment.
Late addition: in an answer to a question at MathOverflow (Jun 2017) I explained the Schroeder function using Matrix-methods ("Carleman matrix") down to small details (and bountied by 300 pts), see MO-answer