This is documented in the help for the control. Here is the excerpt from the help:
Note: To specify a date/time value, you must convert your date or time value to a double. A date is implemented as a floating-point value with the integer part of the number measuring days from midnight, 30 December 1899, and the fractional part representing the time of day. The absolute value of the fractional part of the number represents the time as a fraction of a day. Thus, 1 second equals 1 / 24 hours / 60 minutes, which is 1/86400 or approximately 1.157407e-5. So, midnight, 31 December 1899, is represented by 1.0. Similarly, 6 AM, 1 January 1900, is represented by 2.25, and midnight, 29 December 1899, is -1.0. However, 6 AM, 29 December 1899, is -1.25.
Best Regards,
Chris Matthews
National Instruments