I kept a lid on mine with a tiny hole punched in the top (because I had some blow off and shoot across the room before adding a hole). It would stink... kind of a vinegar like smell. Pretty nasty really... but only when the lid was off. I never smelled them until I was ready to get some out.
I never had many worms for the first week or two, but after that, there would be lots and lots. Once the oatmeal started to look moldy, I'd scrape the top layer off and get a new culture from the bottom. I kept 4 containers going so that I'd always have a good supply.
"What, exactly, is the internet? Basically it is a global network exchanging digitized data in such a way that any computer, anywhere, that is equipped with a device called a 'modem', can make a noise like a duck choking on a kazoo." - Dave Barry