From Palmer's "How to Brew":
"The yeast is the most significant factor in determining the quality of a fermentation. Oxygen can be the most significant factor in determining the quality of the yeast. Oxygen is both your friend and your enemy. It is important to understand when which is which.
You should not aerate when the wort is hot, or even warm. Aeration of hot wort will cause the oxygen to chemically bind to various wort compounds. Over time, these compounds will break down, freeing atomic oxygen back into the beer where it can oxidize the alcohols and hop compounds producing off-flavors and aromas like wet cardboard or sherry-like flavors. The generally accepted temperature cutoff for preventing hot wort oxidation is 80°F.
Oxidation of your wort can happen in several ways. The first is by splashing or aerating the wort while it is hot. Other beginning-brewing books advocate pouring the hot wort after the boil into cold water in the fermenter to cool it and add oxygen for the yeast. Unfortunately the wort may still be hot enough to oxidize when it picks up oxygen from the splashing. Pouring it down the side of the bucket to minimize splashing doesn't really help either since this increases the surface area of the wort exposed to the air. Thus it is important to cool the wort rapidly to below 80°F to prevent oxidation, and then aerate it to provide the dissolved oxygen that the yeast need. Cooling rapidly between 90 and 140°F is important because this temperature region is ideal for bacterial growth to establish itself in the wort."
Maybe your beer isn't around long enough to show the effect.