In a Jazz/Pop environment, the notion "suspended fourth" is virtually always (ab)used for this kind of chord. "11" would indicate the 11th being added (like the 7th and 9th - optionally), whereas it actually replaces the third.

Other interpretations are possible if we assume another note to be the root. This is only legitimate if strongly suggested by the harmonic context.

Modern theorists (since 1950) therefore abandonned the whole idea of harmonic analysis. A chord indication should help the musicians a) to play the chord and b) to grasp the harmonic implications if there are any, deducing the "scale" in which to improvise.

For what it's worth,
Grishka (not a theorist)