If all that's in there is old records from 2011, you're good to go. These can and should be removed. In fact, by default the size of the table is limited (capped) so if the table is full and you've not deleted the old data, SQL Server will not logged new errors should they occur (giving you a warm sense of security, when in fact things could be very wrong!).
In your database integrity jobs, you may want to include a final select from this table to check to see if anything got written there during your maintenance, and if it did, send an email to let you know.
For more information, check out http://technet.microsoft.com/en-us/library/ms191301(v=sql.100).aspx
"Never argue with an idiot; They'll drag you down to their level and beat you with experience" ;-)