Here is a screen shot from CoralVue website that says to replace the media once it turns pink. I also just found a YouTube video of someone with an unopened bag that was white.
I am going to go and see if I have an unopened bag. I really thought it started off white (although I have usually used BRS media)
ETA- I also know with some brands of media it will change from white to color when depleted, then will eventually go back to white, making it looked like it was unused when it is actually depleted. Not sure about ice cap though