Polyformaldehyde sure sounds like something you wouldn't want to mill, but I don't really know the material. A good tough material that you're not supposed to use around acids. Yes they mill it but I'm guessing it's in a controlled environment, not around the house. You're going to do your cutting with a coolant, if you're doing this in a home workshop, what little I know of it is not encouraging. I suppose if you had a laser in a hazmat environment. (Now, I might be too cautious, it might not be as dangerous as I'm assuming. Some of it is food safe, surprisingly.)
You didn't mention what you're trying to make with it. If it's deformed, a thermoplastic will go soft and sag right back onto a flat surface. Your sheets were extruded, so you won't get so perfect as you had with a sag molding. It's forming temperature (soft but not melted) will be over 250 degrees Fahrenheit. You could flatten it, form and shape it, etc. I think there's versions of it getting down to 200 F.