Yes, they do go bad, but no-one has done any good research into how fast -- and it is quite likely that such research is impossible, because there are too many variables. This is why storage of powders is commonly given as 'indefinite'.
I would not try to make up the solutions at a higher concentration, but equally, I would adjust dev times until the negs print on grades 2-3 and I'd fix for 2x (min) 3x (max) clearing times. I'd be surprised if they didn't work. In the 60s I made up developers from raw chemicals dating from before WW2.
Cheers,
R.