My icing is 1/4 cup butter to 1 1/2 cups of icing sugar and a couple tablespoons of milk, so I'm thinking that with so much sugar, the answer is "almost indefinitely in the fridge."
So, as the title says, how long is it reasonable to keep the remnants of a batch? Although I've made small amounts (like the above recipe) on occasion, I'd like to make a big batch, seal it up, and use it as needed.
(I realize that it might not work as well a month or two down the road, I'll experiment with it if I decide it's ok to use.)