The rule being quoted is based on the Arrhenius Rate Rule which predicts rate of chemical reaction as a function of temperature. The accuracy of that equation is well established.
In the case of applying that equation to hydraulic oil service life things get a bit murky.
In the field of lubrication, temperature is a critical factor that can significantly impact lubricant life and machinery reliability. The Arrhenius Rate Rule offers a scientific basis for understanding and predicting lubricant degradation, enabling proactive measures that extend the life of your...
www.machinerylubrication.com
The industry has arbitrarily established 140F (68C) as the standard for max service life. From there every 10C increase results in twuce as much thermal oxidation hence the "halves service life" prediction. That is not the death sentence most people attribute to it.
A more practical rule for mobile equipment is sump temps over 80C (176F) will have very real and practical negative consequences on service life. Likewise a high quality synthetic oil like SUDT2 will survive longer at 80C than a Grouo II based conventional oil. Intervals of higher temp increase oxidation but they dont immediately halve the service life.
As pointed out in the article I linked there are a host of other factors that play a role in service life. Dont get hung up on the "10C temp increase halves service life" and 140F metric. Its very deceiving language.
Dan