i keep my buttercream in airtight containers for about two weeks in the fridge and re use it and color it as needed
i find when it comes room temp it just needs a little stirring and its ready to go
If your not going to be using it in the next 2 weeks (fridge) then I freeze the 50/50 BC with no problem for up to 6 months. I date the lid. I find that is the easiest way to get black and red. I am a procrastinator, and never have time to make it and let it darken with time before I need it, so I make those colors and freeze in one cup containers. When I need it I set it out when the cake goes in the oven. By the time I decorate, just a quick stir and I am ready to go.
I've kept buttercream (Wilton's recipe) in the fridge for a couple of months with no problems. If you have a large amount of don't think you will use it in the near future you can also freeze it.
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