Meaning, of course, 'don't try to tell people things which, given their age and experience, they might be expected to know anyway'. According to Partride's Slang, variations of this very old expression include advice against instructing one's grandmother to 'grope ducks', grope a goose', 'sup sour milk' and 'roast eggs'. Known at least by 1707, it was included in Jonathan Swift's Polite Conversation which had 'Go teach your granmam to suck eggs'.
It had been suggested that, in olden days, 'sucking eggs' would be a particularly important thing for grandmother's to do since, having no teeth, it was she was capable of...
(Source: Cassell's Dictionary of Word and Phrase Origins) (Having never sucked or blown eggs, I'm bereft of answer as to why)