Your main problem (other than careless shifting) to watch for would be due to water intrusion. Water makes the oil milky when homogenized by the spinning gears. The more water in the oil the yellower it gets. Black is great. Mercury uses a Blue Black oil so it's almost black out of the bottle. Pennzoil is honey colored.....2 extremes of the spectrum.
On Pennzoil and water, Honey is clear....water intrusion is like milk.
Always a good idea to change fluid annually if used a lot or LU sits in the water, and always use new seals on the drain and vent screws in the LU.