When you heat oil past a certain point it starts to break down. Much the reason why deep frying is so bad for us. It breaks down the oil and all that is nutritious in it. Maybe it has something to do with the oil being broken down more. The only thing I would be worried about with used veg is if it was dirty, and if it was too acidic or basic. Having one of those digital pool testers would give great peace of mind, to make sure the oil is neutral.
