There appears to be an inconsistency in the date\time rec format - if you wire a number into it that overflows the element (like 65 seconds or 14 months) and convert to a timestamp, you get an empty timestamp. If you do this with the day of month element, it calculates it correctly, so you can give it day of month = 34655 and you will get a date several years in the future. Day of week and day of year, on the other hand, seem to have no effect at all on the conversion to timestamp.
Personally, I think I would like all the elements (maybe except the last three) to behave like the day of month element - I would like to be able to add 3 years, 5 months, and 673 minutes to a timestamp and know what time it would be, but even if this isn't done so, I still think this is a bug.
Attached is a simple VI (7.0) demonstrating the problem.
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