No it doesn't - that its my point. It tells you what percentage attained a particular level (Level 4). The APS is a better measure at telling you how well the pupils have achieved.
If a school has 50 children in the year and 49 got level 4 and one got Level 3 in each subject, then their AGG would be 294 (assuming that my maths isn't screwed up).
Another school with 25 pupils but 24 of whom get Level 5 with one child getting Level 3 would have an AGG of 288. So despite significantly better results, would be lower down the league table.
I can't be bothered to work out the exact APS for each school, but the first one would be just below 27 and the second one would be pretty close to 33. And for any school with an APS of 30 or above, at least half the scores must have been Level 5 or more.
Personally, as a mother who hopes that she has bright kids, the APS is key for me, AGG is interesting, and VA would only interest me if I was looking at schools with high numbers of SEN or English as second language say. Obviously the Government is interested in the AGG as it is their measure as to whether children meet a particular target, but actually I want my children to be attaining their fullest potential.