The manufacturer assigns a shelf life to the glue - although my experience is that is does last longer if not subjected to freeze-thaw cycles.
I asked Titebond manufacturer Franklin about the glue's shelf life and how to decode it...here's their reply:
Dear Mr. Trager,
Thank you for your inquiry. The shelf life for Titebond II Extend Wood
glue should be about 1 to 2 years from the date of manufacture. The
date
of manufacture can be determined from a lot number stamped on the
bottle.
The lot number will start with a number, followed by a letter and than
some
more numbers. The first number is the last digit of the year on
manufacture. The letter that follows would indicate the month adhesive
was
made. "A" is January, "B" is February and so on, we do not use the
letter
"I". It is important to stir Titebond II Extend prior to using. Never
use
anything metal to mix glue. As Titebond II Extend gets old, it will be
harder to mix the fillers back into solution. Eventually, it will not
be
possible to mix fillers back in. I hope this information is helpful to
you
Sincerely,
Franklin International
Marc Bergdahl
Construction Products Division
Hope this helps.