It mainly states that while pancake mix (or the yeast in it) does not magically grow spores when it is out of date, but has to be exposed to spores. My take is that it is a good breeding ground for spores (still scary huh)
If it is in "unbleached wax paper, plastic, or a foil pouch within its outer packaging wouldn't have this contact and should still be safe no matter how old it gets" On the other hand if it is sold in just a card board box it might become exposed.
IMPORTANT - If your pancakes taste weird DON"T EAT THEM! If you have a mold allergy a little caution will go a long way! If they are sealed in unbleached wax paper, or a foil pouch they should be okay.
This information was obtained from snopes. Please visit them to read the whole story at