I don't think there's a huge problem with oats in a puppy food. I wouldn't keep my dogs on puppy food very long anyway! But then I'm one of those raw-food people who starts puppies off on raw right away.
--Regina and the GSDs:
UCDX von Sontausen Holy Grail (The BUNNY!) HGH, UD,RA,BN,GN, ASCA UD RAX High in Trial
PAM Monster Mike SchH2,UDX,OM1,TD,RE,VER
PAM FGDCh Ianna von Sontausen UDX,BH,TD,RE,PT (4.26.1998 - 2.11.2013)