Tim, I re-use my sepia toner without any issues, even after long periods of time... It seems to keep well in a fully stoppered bottle. Never had the issue naugastyle describes. And I only recently started using HCA and doing two bath fixing.
Or am I just less critical in terms of highlight retention during toning? I doubt it... Of course there is a change in color, and since the light tones in the prints will usually be completely toned, and hence turn brown, this will mean lighter colors in the highlights, but I have never witnessed a complete disappearance of that highlight detail, as naugastly describes.