Yes, how old is OLD?
I just spent some time with a couple colors. They continue to work fine, even with minimal thinning.
I'm working on a project that is using Interior Black, Medium Green, Military Brown and Green Drab, none of which is fresh from the LHS. I honestly don't recall when I bought them, but they have to be at least a year old. If they do need thinning, I use distilled water.
Is it possible you're thinning too much? Is your compressor pressure is too high? Is your airbrush tip too close for the pressure?