Yes, bullets would continue to travel practically forever. However, people concerned with the navigation hazards they present don't really understand the scale of the universe.
Space is so incredibly vast that even given a star-trek like galaxy teaming with interstellar flight capable races, the chances of a ship actually every being hit by a "stray bullet" are statistically next to zero.
It is true that gravity wells would tend to suck-up stray bullets fired in a stellar system, and this would keep the intra-planetary spacelanes clear, but in interstellar space, such bullets would most likely travel for billions or even trillions of years before happening to intersect a gravity well that could suck them in. But it wouldn't matter since there would be virtually no chance of them hitting anybody.
In the BSG universe as presented, interstellar space is pretty much devoid of any ship traffic anyway due to the space-folding technology being used for FTL travel.
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