Does rum extract go bad?

I have a plastic bottle of Watkins "Imitation Rhum Extract" that is a few months old but labeled as "best before June 2015." I vaguely recall using it and being satisfied with it when I got it, but today it smells like new plastic and a hint of garbage.

It ruined a batch of homemade egg nog. Even putting a few drops of it into store-bought nog makes it undrinkable for me; it's mostly this bad, pungent note with a bit of rum far below.

But the odd thing about this is that my wife says she can't taste anything wrong with it, and she's usually the more sensitive one.

Am I crazy, or can extracts go bad? Is this a bad bottle? Maybe I did something wrong with it? I'm sure it's not supposed to taste awful--real rum sure doesn't! Any ideas?

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