Y'all are missing the point. Yes, of course a modern vehicle can correct for changes in ethanol content. Where I live, I can get 93 fuel only, 93/10% ethanol, and in the summer 93/30% ethanol. You can also get e85. I'm not sure about straight e85, but all of these will run fine in an ST. However, this thread started with talking about using various fuels to extract max power- not just to use knock correction and lambda sensors to achieve closed loop stoichiometric fueling.
The holy grail for a buyer of a tune would be to have a tune that would not just allow the vehicle to drive down the road, but to be able to maximize performance when a potentially more powerful fuel is present. For example, I'm wanting to race and don't care about mileage, I plug e85 in the tank, and bang...6 more lbs of boost and adequate timing and fueling to match. Similar to what you'd get with an e85 tune without my having to download different maps and deal with mixing and measuring. After all, even e85 is 51-85% ethanol depending on the season. That would be a real "flex fuel" tune.
I don't have knowledge about Ford's ECU, but I do have insight into tuning flex fuel with a Haltech. That type of tune allows correction maps which use a content sensor to determine the percentage of ethanol. Using that you can alter timing, fueling, and boost via maps so as to interpolate and maximize the performance automatically. So, when I first posted about Flex fueling to ZFG, I was more curious as to how or whether this could be accomplished when he said he was looking into a flex tune.
Since there isn't an alcohol content sensor on the ST, the only way I can think of is to use the fueling correction strategies (short and long term) to "infer" the amount of ethanol present. We can certainly assume Ford does this to do stoich, but even so, do there exist correction maps for timing, fuel, and boost in the stock ECU that can take advantage? If not, you can't do a true "flex fuel tune".