I do the same (grind as needed flax seed) only I use a ceramic grinder which does not heat the seeds while grinding them as heat is a killer of the nutrients in the seeds.
Flax seed is great as far as it goes but this oil blend is much more complete. It comes dated and refrigerated in a dark glass bottle. I believe Whole Foods carries this.
http://www.udoerasmus.com/FAQ/FAQ_index_en.htm