I did a starter last week with a vial of White Labs 008 yeast that was expired. When I picked it up for $2, I thought it had a best by date of 1/1/16, but instead it was 1/1/15 (almost 2 years old).
Well I went ahead and did a starter (with yeast nutrient) and it took about 3 days before the color changed as others have mentioned and I saw a small amount of krause/foam start to build up. The color change is the biggest indicator in my opinion and others (I'm sure).
Unfortunately due to this long time, I couldn't use it for my batch that our club did this past weekend. I started the starter on Friday morning, we brewed on Saturday, but the starter wasn't showing signs until Sunday night. Monday morning I moved it to the fridge to cold crash it and today I decanted it and moved it to a sanitized mason jar. This will give me a reason to maybe brew again this weekend and use it.