It should work because it is a recombinant protein. I have used IL-10 elisa std protein for functional assay and it works like charm. However i have no experience with IL1b, you need to whether the std was carrier free and no azide was used in your reconstitution buffer because it azide is toxic.
If you want to use it on cells you'd better ask the manufacturer if it is cell culture suitable or at least if it's tested for LPS, as it could easily interfere with the outcome of your experiments.