Canned cheddar kept for many years - does it get better and for how long?
Cheese aging or cheese ripening is influenced by a variety of factors, ranging from the microflora to the curd, and others. The enzymatic process is the most crucial process for all cheeses, although bacteria plays a role in many varieties.

You can see the same process with certain cheeses (parmesan, amsterdam): store them properly in the fridge and they will eventually dry out and harden, while the flavor gets more intense.  Hard cheeses are already slow to ripen, taking from months to years, so the canning process definitively prolongs this process (since there are no external contaminants and limited oxygen for bacteria to grow).

As with anything, it will stop developing flavor when there's nothing else to develop: the flavor components are all already combined, so ingredients are spent. According to the website you linked it's more than 30 years, it will depend how slow does the development happens, how well sealed it is, temperature variation, etc.