SolidWorks does include information in the Help files that applies to different versions of the software and is not particularly good about pointing out any restrictions. I think it is their way of advertizing to us and getting us excited enough to upgrade our licenses.
When you say Premium, do you mean SolidWorks Premium or SolidWorks Simulation Premium? The latter should have all the bells and whistles. I think the former just gives you the basic Simulation. You might be able to find out on the SolidWorks web site what features go with what versions.
The "Create Body from Deformed Shape" is only available in Simulation Professional and Simulation Premium. It's mentioned in the SolidWorks online help here: http://help.solidworks.com/2012/English/solidworks/cworks/idh_help_solid_from_deformed.htm
From the help:
This functionality works for solid, shell, and mixed meshes with solids and shells, and is available in SolidWorks Simulation Professional and above.
I checked the local help file in 2012 SP3 and it has the same information as the online help.