Yes there is a third woe in revelation 11.
There is no phrase woe to the inhabiters of the earth in Revelation 11.
It takes place after the second woe is past.
No, the third woe to the inhabiters of the earth, what it will be, is in Revelation 12:12. Revelation 11:14 is John alerting the reader that what the second woe will be, has been shown (in Revelation 9.13-21). And that it will quickly be shown what the third woe to the inhabiters of the earth will be (in Revelation 12:12).
12
Therefore rejoice, ye heavens, and ye that dwell in them. Woe to the inhabiters of the earth and of the sea! for the devil is come down unto you, having great wrath, because he knoweth that he hath but a short time.
Revelation 11:15-18 is the reaction to the sounding of the seventh angel.
Revelation 11:15 is the
rejoice ye heavens. The great voices in heaven, saying, The kingdoms of this world are become the kingdoms of our Lord, and of his Christ; and he shall reign for ever and ever.
Revelation 11:16-17 is the
rejoice ye that dwell in them. And the four and twenty elders, which sat before God on their seats, fell upon their faces, and worshipped God, Saying, We give thee thanks, O Lord God Almighty, which art, and wast, and art to come; because thou hast taken to thee thy great power, and hast reigned.
Revelation 11:18 is the summary of the mystery of God to be finished in the days of the voice of the seventh angel - Revelation 10:7
Revelation 12:14 the time, times, half time is the days of the voice of the seventh angel.
18 And the nations were angry, and thy wrath is come, and the time of the dead, that they should be judged, and
that thou shouldest give reward unto thy servants the prophets, and to the saints, and them that fear thy name, small and great; and shouldest destroy them which destroy the earth.
The text highlighted in red is not a woe, but reward. The phrase woe to the inhabiters of the earth is not in Revelation 11:18.