The answer is "yes", but before you go that route, try this:
1) Implement the table variable and formulas as described above.
2) Run the analysis you want. In the ensuing report, click in the upper-left-most red triangle menu and select Redo > Automatic Recalc. By selecting this option, you are telling JMP to refresh the report whenever the data table changes.
3) Leaving the report open, update the table variable to various values. Since this changes the data table, it also updates the report... so you can run a single report and interact with it just by changing table variable(s).
4) If you like this approach, save the report's script to the data table using the red triangle menu, and you're done.