Not really .... it might if opened frequently though.
I use the dry reptile food (pellets) to feed my crickets (superworms and mealworms when I have them , as a supplement to the oat and wheat bran and carrots).
More of hit with the crickets than they ever were with the beardies and bluetongues.
I usually 4 bottles of RepCal Adult Beardie Pellets at time (saves on postage) and this will last about 8 months.
I know the calcium liquid goes off. I had an old bottle of it in the fridge that had been there for 6 years, opened and syringed up some and it looks off.
If in doubt the safest tack is to toss it out. It's probably OK if it looks OK and smells OK to feed to the insects.
I know, but the crickets LOVE the dry adult beardie pellets none-the-less and it's a great way to gut load them along with some leafy greens.
I discovered they like them by accident, I dropped a pellet on the floor one day when was giving pellets as a treat to Rex and Puff and spotted a rogue cricket running across the kitchen floor dragging the pellet.
More of hit with crickets than the dragons (even if I soften them).