function fLoopThrough ( obj, parent, thirdLevel ) {
    $.each( obj , function ( index, sValue ) {
        if (typeof sValue !== 'object' && !$.isArray(sValue)) {
            if (!parent && !thirdLevel ) {
                var oReformat = {text : index, value : sValue};
                newObj.push(oReformat);
            } else if (parent && !thirdLevel ) {
                var oReformat = {text : index, value : sValue};
                newObj[parent].push(oReformat);
            } else if (thirdLevel) {
                var oReformat = {text : index, value : sValue};
                newObj[thirdLevel][parent].push(oReformat);
            }
        } else if (typeof sValue == 'object' && !$.isArray(sValue)) {
            if (!parent) {
                newObj[index] = new Array();
            } else if (parent) {
                newObj[parent][index] = new Array();
                thirdLevel = parent;
            }
            fLoopThrough(sValue, index, parent);
        }
    })
    return newObj;
}

var newObj = [];
var oReformattedJSON = fLoopThrough(yourJSON);

console.log('oReformattedJSON...',oReformattedJSON);