My understanding is that Shelf life have preservatives in them or they are air dried for longer.
It's also my understanding that if you air dry frozen boilies (once thawed), they will last a long time.
The theory is that it's the moisture that allows the bacteria to grow. To throw an egg in the mix [sorry] bacteria are quite happy to grow in the eggs as we all know, although you don't have to use eggs in a boilie mix.
The last few batches of boilie type stuff I've made, I haven't boiled and just air dried for a few days, they go like bullets, not sure how long they last though as I haven't tested them.
I think the biggest problem is knowing when baits have gone off from a fishes point of view

after all, baits can become very effective when they are a bit ripe and rancid, Rubby Dubby and fermented hemp come to mind.
As Stephen said though, the manufacturers should give more information.