I'm with George. I feed by hand, rather than use a mechanical feeder, but in either case I think observation is paramount to achieving success without wasting feed or contributing to sub-optimal water quality issues.
When it comes to feeding, I consider the 15 minute rule to be a starting off point....it needs to be adjusted as necessary. I don't believe in reducing a subject as prone to fluctuation like feeding usually is, to a rigid, mathematical style formula.
Feeder runs for (X) seconds, x (Y) lbs. of feed, x (Z) times daily, = 2 pound bluegills. I just don't see that. Too many variables.
If I were you, I would spend some time at my pond watching the feeder, and the fish. Let them tell you what they want. You should be able to get a rough idea of how much feed to give them, and you can set the timer accordingly. I don't think a feeder will ever match eyes-on hand feeding for flexibility, but you should get close.