I started reloading last year so I am not well-versed on how to tell if powder has gone bad, but want to relate my experience as I hope it will be helpful to others in one way or another.
Short version: 20 year old imr 4895 stored in heated, dry basements in a non-humid area is generating a rust-like cloud 20 years after the lot date, so please keep this in mind with your personal stocks of it.
Longer version:
I purchased 3 cans of the same lot of IMR 4895 from a local reloader last year and got around to using them this year. The first time I poured some into the hopper this month, I saw a cloud of red dust rise up from the hopper as I poured. I was concerned and took it to two experienced older reloaders that I know. Both observed the powder and saw the dust and advised me that the dust was not normal but was so minor that most people would not have even noticed it (you have to have it against a black background to see it), and that it would be okay to proceed with using it up quickly if I did so very cautiously and used it all up in the near term.
Accordingly I loaded and shot some .308 rounds with it using roughly 70% of the max loads listed for a .308 (figured 70% was a safe place to test given the similar 60% load instructions for H4895) and experienced normal velocity ranges and slightly poor extreme spread for the loads. For example, if you would expect 40 for ES, I got 60 or 70 but no worse.
In summary, I am grateful to have noticed that the powder was starting to go bad early where I can still use it up this year for practice loads, but disappointed that powder can go bad this quickly when stored in reasonably good conditions.