Hi Mark,
I wrote to the fine folks over at Thompson Enamel, Inc. and I was told by Bill Helwig that if kept dry, unfired frit could last "many lifetimes." Bill also made sure to note that if exposed to moisture, particle size does play a role in the speed of decomposition. In the presense of water, the smaller frit will decompose more rapidly than the larger lump or air-cooled cake variety.
So it sounds like if you keep your enamels dry, and you should be all set.
~Addie~