Third-party anaconda channels can contain anything the owners want them to. The package they make available could be a development build; it could be an outdated build; it could be a build that is patched in an opaque manner to work with whatever project they were concerned with when they created the build; it could be a build they were testing and never got quite right, so you'd get a broken package. There's no oversight, no peer review to speak of, and no easy way to tell exactly what's there.
That said, if you're familiar with the third party and trust them, then by all means use their conda build. If not, then you have no idea what you're getting, and you're downloading it at your own risk.
If you want to install the latest release of astroML, the best way to install it is via pip.
Jake