I am also in melbourne.
Well isn't that a happy coincidence. If Ray has access to several bonsai clubs that means that you do as well. They will be able to offer specific advice about keeping bonsai happy in your climate as well as suggestions for locating your tree and where to get decent soil, etc. You are lucky to have that resource.
It got very hot today so I watered it twice.
If it needs watered twice a day then that is what you must do. Make sure to check the soil below the surface though. The top can seem dry and the bulk of the soil may still be moist.
Ok so even when it's 40 degrees there's still no need to take it inside?
My practice is to keep everything outside during the summer only moving tender species inside as I must. Re-read Ray's comments, if he can keep bonsai outside so can you.
There was a catepillar on one of the new growths and I noticed a few of the leaves stick together. I pulled them apart and it must have been a cocoon or something there. It was a small oval round thing.
I trust that you dispatched the culprit. Keep a close eye out for any of his friends.
Should I put it into a container now?
How much should the water cover the plant?
I'm not sure that I understand. I don't generally water by the immersion method. You can do that from time to time to ensure that the soil is saturated but don't let the tree sit in water for any appreciable length of time. Some growers use what is known as a humidity tray, a shallow tray with pebbles and water, to raise humidity but I have my doubts that they do any good outside.
I have started to notice new growths here and there. I'm so happy!
So you're on the right track then. Once you see a fair amount of growth it is time to start thinking about fertilizer. Probably no rush though as it is just getting started and you don't know when it was fertilized last, something to start thinking about though.