I have been Selenium toning for many years myself, and for a long time, toned a big batch and threw the stuff away, a couple of times a year. Then I read on APUG about re-using.
I made a gallon of working solution, 1:20, with tap water, and a teaspoon of Kodalk (an old Fred Picker recommendation - must be like the borax mentioned by Stephan). Anyway, I toned 8 11x14 prints of Forte Fiber MG5, they toned well in 6-8 minutes (nice blacks, hint of brown). I started another batch (the same day, right after the first batch) and got almost no color change after 8-9 minutes. I added a small amount of stock, and they came up fine. I was surprised at this, since folks seem to get a lot more life out of the working solution.
With the dilution I describe, does this seem right?