Profile field validation error when formatting field present

Steps to replicate:

1. create a profile containing an individual field and a formatting field
2. attempt to add a participant field (as if you were using this in an event registration)
3. receive the form validation message: "Cannot add or update profile field "Participant" with combination of Household or Organization or any subtypes of Household or Organisation"

The form validation was not updated to account for the new Formatting field type. It should allow this to save.