If the powder has red dust and no bad odor the powder is "probably"
still good and the inside of the can is creating the red dust.
Here is why I say that:
Typically when powder goes bad you get red dust and/or an acrid smell.
I had a metal can of 7828 that had red dust in the powder but no bad smell.
I looked carefully at the inside of the can and saw that it was rusty.
I decided to try an experiment to see if the powder was going bad or if the red dust was coming from the can itself.
I poured the powder slowly through the light breeze coming from a slowly turning 12" fan .
I poured it back and forth from one container to the other until there was no longer any red dust coming from the powder.
I then placed the powder in a plastic container so that I could tell if the dust was coming from the metal in the can or the powder itself.
It still has no acrid odor and is not developing red dust.
This by no means a scientific experiment but brings an interesting conclusion.
Why the inside of the can was rusting, I have no idea.
There must be some chemical reaction between the metal and the powder.
Is that a bad thing? I don't know.
Your mileage may vary.
Use your own judgement.