Depends on what you're feeding. There were some great articles a few years back on the effects of defrosting frozen food and then refreezing it. If it's typical tank residents (clownfish, tangs, etc.), then you're fine. If it's something special like a breeding project, or syngnathids, then you can still use it, but it's better to get new food.
In general, when food thaws, it loses nutritional value, as enzymes within the food start to break it down. If I remember correctly, the process of defrosting and refreezing puts it through a temperature zone where enzyme activity peaks relative to temperatures around it (a local maximum of enzyme activity), which results in more broken down food. You can see this best with frozen (non-PE) mysis shrimp. As the freezing/thawing process repeats, the off-white shrimp start to turn browner and browner.