Yes, you can do the analysis on the means and std devs very similarly if you had the raw data. In your example, however, 'Formulation' isn't a possible factor to use as that's just an ID for each set of data values. You would just want to use 'Percent'. That's a factor that has 3 levels with 2 values at 0, 3 at 12.71, and 4 at 30.
If you have 'Percent' as a categorical variable, than the Fit Y by X platform would result in doing ANOVAs. Note: Some people like to use Log(SD) as the response instead of just the SD, as that transforms the values so they're more normally distributed. Not necessarily though unless you're trying to some very precise inference. You're probably fine as is.
If you have 'Percent' as a continuous variable, than the Fit Y by X platform will fit a linear regression.
Just make sure when interpreting results you do so knowing the data analyzed are the means and std deviations and not individual data values for whatever attribute was measured. A nice graph to do with this kind of data is to plot the means on one axis, the std dev on the other, and then use a symbol or color to show the 3 % levels. This allows you to simultaneously view the central tendency and variation for each of the 3 % levels.
I attached .jmp file with the analyses and graphs.