Have any of you ever done this and did it cause a loss in effectiveness.

It shouldn't cause any problems storing it outside. Most of it has been stabilized with salt.

I leave mine in my tackle bag which sits in the back seat of my truck at all times (even in the heat of the summer) and have no problems doing this. Thankfully, my tackle bag is waterproof, so it seals, keeping my truck from smelling like Danny King's blood punch.

I keep mine in the garage fridge

I got a couple of 5 gallon buckets of Danny kings seal still in tact from 2007... I also opened th
A gallon bucket here while back that was from 2007 and it w I'm not an expert by far just fine with no issues whatsoever... Same texture is when it was made... I believe the key is 100% no air... I also got some secret seven that's never been open from the first year that Jeff brought it out.
Controlled environment sealed lid no issues...

It does smell.