Ettringite-accelerated binders composed of CAC-PC-C$ (calcium aluminate cement-Portland cement-calcium sulfate) and CSA-PC-C$ (calcium sulfoaluminate cement-Portland cement-calcium sulfate) have been used widely for indoor applications, such as self-leveling floor screeds, underlayment, and tile adhesives owing to their rapid setting, early strength gain, and shrinkage compensation properties. These properties also make these binders appealing candidates for outdoor rapid repair (e.g., highways, bridge decks, and airfield pavements). However, a central question remains: Does ettringite remain stable in outdoor exposure conditions? If so, which factors will contribute positively/negatively to the long-term stability of ettringite in these systems? To address these questions, this critical review presents the current state of knowledge regarding the hydration of ternary binders composed of CAC-PC-C$ and CSA-PC-C$ with respect to ettringite formation and the factors affecting the stability of ettringite thereafter. The purpose of this review paper is to synthesize and analyze current research regarding conditions that promote or deter ettringite stability, establish what information is missing, unclear, or contradictory, and identify remaining research needs to address the identified knowledge gaps.