Since you are not using the timeout event, add the "timeout event" to your current event case.
Now add a shift register to the while loop surrounding the event structure. Initialize it with "0" and feed it to the timeout terminal of the event case. On the right side, feed a -1 to the shift register.
The event will immediately execute the first time (because of zero timeout!) but the will no longer do so (because if infinite timeout!) and from now on the event will only react to your "value changed" event.
Alternatively, you can also fire a signaling event for your control using the desired default value(LabVIEW 7.0 and later only, I think).
(The attached image shows both methods.)