To think that the aquatic industry, especially those that are involved in the manufacture of fish food, do not test at post production levels for nutrient loss, spoilage, mycotoxins, etc, is absurd.
There have been some generalizations made in this discussion as though all fish foods are created equally, when in fact they are not. As previously mentioned the fatty acid levels, moisture content, and level of antioxidents will all play a major role in how long a feed stuff will remain stable , which is where expiry or "best before" dates come in to play.
We know that feed ingredients with high levels of unsaturated fatty acids are susceptible to becoming rancid over time, and cereal grains exposed to high moisture content (over 12-14%) can become prone to mold and possibly aflatoxins.
http://www.soyaqua.org/pdf2/asafeedhandstorepub.pdf
http://edis.ifas.ufl.edu/fa095
As mentioned in the first link freezing ones food will not necessarily make it last indefinitely, either. Again, one cannot generalize on the stability or oxidation rate of a food stuff without knowing a number of factors, such as freezing temp, lipid levels, antioxident levels, and even the types of antioxidents utilized by the manufacturer.
Certainly not all foods require being tossed the moment they reach a manufaturers expiry or best before date, but with some of the high fat, high moisture content foods that are currently on the market spoilage is only a matter of time, even IF they are stored under ideal conditions. (such as a dark, dry, cool environment)
For both palatability reasons, and cost effectiveness, most manufacturers would love nothing more than to add 25% or more moisture content to their fish food, but by doing so manufacturers & feed mills also realize that the stability (ie shelf life) of the food will be decreased by a significant amount. Add to that less than ideal storage & handling conditions by a feed mill, a retail store, or by consumers, and you now have a recipe for disaster.
12-18 months from date of manufacture is a good starting point, many fish foods will remain stable with little overall nutrient loss for much longer (3-4 yrs), while others should be used up within 6 months time, or less, depending on storage & handling practices.
The bottom line is there are way too many factors involved to give the OP a simple yay or nay on the products that he was considering.