If an oxidation layer forms between specific device's contacts and the terminals of its battery, are there visible signs that it happened?

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yes... corrosion of nickel plated steel (battery terminals in disposable batteries is usually blue-ish white powdery looking stuff
https://s3-production.bobvila.com/articles/wp-content/uploads/2015/04/Batteries_Corroded-650x433.jpg
https://i.pinimg.com/564x/d0/14/e3/d014e37a2c0a2596a51e35a59c3b5da7.jpg
corrosion of lead battery terminals is similar by usually more blue in color
http://autotrends.org/images/battery-terminal-corrosion.jpg

corrosion of the leads can be anything from blue-ish white to rust colored
https://encrypted-tbn0.gstatic.com/images?q=tbn%3AANd9GcQImSzun-lPbe655hzWUWhiDz4Gpg9NMQBEIA&usqp=CAU
https://i.imgur.com/tA5yc.jpg

corrosion of electrical contacts in a circuit can be any of those colors or a blackened pitted surface depending on the materials of construction
https://upload.wikimedia.org/wikipedia/commons/thumb/6/6c/Contacts_-_new_and_used.jpg/300px-Contacts_-_new_and_used.jpg...Show more

oxidation is rust....Show more