This is something cool. If I elaborate this a bit; this will allow you to trigger something on an important day like contract end date or etc. This can actually replace the need of a windows service that checks something periodically.
In CRM 2011, it will be like this;
In CRM 2011 online it will be like this;
In CRM 2013 online
If you check the record after creation you will see the waiting statement in the workflow tab.
Since expiry date can be changed later on, it is also advisable to trigger on Update as well as on Create. If a user changes the expiry date later on, you will see an extra waiting record.
Anyway, as I tested, it worked for the correct expiry date.
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