It is because tabu does not use “real” alternate colors but colorseries provided by package xcolor.
\documentclass{article}
\usepackage{tabu,booktabs}
\usepackage[table]{xcolor}
\begin{document}
\noindent
\definecolor{lightb}{RGB}{217,224,250}
\begin{table}
\begin{tabu}{>{\bfseries}lX[l]}
\toprule
\taburowcolors[1]3{lightb..white}
Row1 & 1 \\
Row2 & 2 \\
Row3 & 3 \\
\bottomrule
\end{tabu}
\end{table}
\end{document}

Changing to \taburowcolors[1]4{lightb..white} gives
\documentclass{article}
\usepackage{tabu,booktabs}
\usepackage[table]{xcolor}
\begin{document}
\noindent
\definecolor{lightb}{RGB}{217,224,250}
\begin{table}
\begin{tabu}{>{\bfseries}lX[l]}
\toprule
\taburowcolors[1]4{lightb..white}
Row1 & 1 \\
Row2 & 2 \\
Row3 & 3 \\
Row4 & 4 \\
Row5 & 5 \\
\bottomrule
\end{tabu}
\end{table}
\end{document}

Coloring with table option of xcolor
If you want alternating rows between two colors (lightb and white) as said in the comment, you may go with xcolor and its table coloring.:
\documentclass{article}
\usepackage{tabu,booktabs}
\usepackage[table]{xcolor}
%\definecolor{headercolor}{rgb}{0.392,0.584,0.929}
%\definecolor{oddrowcolor}{rgb}{0.961,1.000,0.980}
%\definecolor{evenrowcolor}{rgb}{0.902,0.902,0.980}
%\definecolor{white}{rgb}{1.0,1.0,1.0}
\usepackage{booktabs}
\begin{document}
\noindent
\definecolor{lightb}{RGB}{217,224,250}
\begin{table}
\rowcolors{1}{lightb}{white}%
\begin{tabu}{>{\bfseries}lX[l]}
\toprule
%\taburowcolors[1]4{lightb..white}
Row1 & 1 \\
Row2 & 2 \\
Row3 & 3 \\
Row4 & 4 \\
Row5 & 5 \\
\bottomrule
\end{tabu}
\end{table}
\end{document}
