Simply make use of parse_str()
for this trick.
<?php
$raw400 = 't410-1:06,f410-15.4,t390-1:06,f390-15.6,t370-1:05,f370-16.0,t350-1:05,f350-16.2,t330-1:04,f330-16.3,t310-1:00,f310-16.7';
parse_str(str_replace(array('-',','),array('=','&'),$raw400),$arr);
print_r($arr);
OUTPUT :
Array
(
[t410] => 1:06
[f410] => 15.4
[t390] => 1:06
[f390] => 15.6
[t370] => 1:05
[f370] => 16.0
[t350] => 1:05
[f350] => 16.2
[t330] => 1:04
[f330] => 16.3
[t310] => 1:00
[f310] => 16.7
)