Originally Posted by Freakscene
Oxygen dissolves more and better in water than in the organic solvents that made up 'old' HC-110. This means that it is most likely that the new aqueous HC-110 will oxidise more quickly than the old organic solvent formulation. Kodak uses antioxidants to minimise oxidation but typically they have limits to their efficiency and for how long they protect against oxidation.
A couple of things to note: the HC-110 I have used has always had an expiry date. Kodak never claimed it lasted indefinitely. In my experience it was very long lived but I did need to periodically recalibrate it, but the bottle I still use expired in 1995.
Kodak's estimates for longevity of stock solutions may be nearer to the mark for the longevity of the new aqueous formulation.
I have the skills and access to the equipment to synthesize the organic compounds in the 'no-water' HC-110, but, I suspect, like Kodak has found, there is probably little profit in manufacturing small batches of no-water HC-110.
Oxidation occurs very easily in a non aqueous environment. I can see HC-110 start oxidizing very shortly after the bottle has been opened the first time. What the absence of water does is prevent chemical reactions (such as acid base reactions), due to a lackof solvent. Without a solvent such as water, chemical reactions are either extremely slow or non existent.