I just realized last night that x-lock is one-way like that. I assumed (incorrectly) that a cutting disc would go on with the label side facing the grinder. Nope. The disc I had is label facing *away* from the grinder.
This is when I learned that the interface has that asymmetry in the wings of the "x".
I don't put much stock in the "Safe use by" date. Most use-by dates on products have nothing to do with the product going bad and everything to do with enabling ISO 9001 compliance for "shelf life control". Companies have to demonstrate "shelf life control and stock rotation" to meet ISO 9001, so that causes companies to demand "expiration dates" for products that basically last forever.
I've used cutting wheels well over a decade old (and not of particularly good quality) and they work just fine. The only time I've broken a wheel was user error in jamming it in crooked.
The adhesives used to bond grinding wheels can vary in longevity.
Hard vitrified grinding wheels made for bench grinders will essentially last forever, because the abrasive particles are basically melted together.
These vitrified wheels can still be damaged and become unsafe if water gets absorbed into the abrasive matrix, and freezes, or if a foreign substance like rusty water gets absorbed into the abrasive matrix and dries out and crystallizes.
Some other bench grinder wheels were using abrasives bonded together with various resins, and those are known to go bad over time, simply from age, or moisture damage, or UV damage.
As for thin, fiber reinforced cutting and grinding wheels, those can definitely go bad from a variety of factors, since these are almost always resin bonded.
UV light can affect the resin. (Old epoxy becomes brittle with UV exposure)
Heating and cooling cycles can do similar, either causing the resin to become brittle, or causing expansion and contraction that breaks down bonds in things like flap wheels.
Moisture can affect the bonds as well.
While some old grinding wheels might be fine, I would really recommend doing a stress test on a sacrificial example with the grinder guard and cutting guard in place, just to make sure old grinding wheels aren’t going to explode.
There was a post on GJ more than a decade ago, showing grinding wheel accidents from I think Russia, and a bunch of the pictures were dead people on slabs, with partial grinding wheels sticking out of their heads and chests, because the grinding and cutting wheels fractured in use.
Basically, accident that make cutting your gingers off on a tablesaw seem mild.