If it is showing any signs of life, leave it alone, and it seems it is with those little greyish green buds. Assuming its Buddleia davidii, bear in mind this year that this shrub should be hard pruned back to within 2 inches of previous year's wood in MARCH, not October, though its alright to take off the worst of the long lengths then. Give it a couple of handfuls of Growmore or similar around the base, and if its as dry where you are as it is here in London, water it well. Despite the unseasonal warmth right now, it is only a week past March, so still very early Spring.

It's too early to be sure. Give it lots of water and wait and see.

It's just occurred to me that when you said 'standard' buddleia, you may have meant an actual standard - grafted onto a straight stem with all the growth from that point. I've never seen one done with Buddleia, but if you actually meant that, then the pruning will be different.