I have another "trick." I have limited space and changing tastes, so instead of buying really long term, I usually bulk buy as much as I have room for of what I think I will want when the new crop comes out, and re-up midyear. My assumption is that Hops Direct or whoever is storing them better than I would in the interim. Like Joe Sr. use in a reasonable amount of time. You still save big $$ over buying ounce by ounce at LHBS.
That said, to the original question: cold storage should allow them to be good for years, just use your nose. Remember the "hop glut" a few years back? Brewers had so many years worth of pellets in storage that it really disrupted the market and led to many acres being grubbed up, farmers turning to other crops. The virtue of pellets is, they keep.