As far as im aware you cant set a formula as a default value.
The best way of doing it is to choose a value as a default and then check for that value using a formula field after. If its there make the value of the formula field 7 days ago and if the value isnt there use the value from the parameter.
Then in record selections etc use the formula field instead of the parameter.
Do you mean for both the default and the selection? You could change the formula to:
if {?date} <> date(2999,9,9) then
{table.date} = {?date}-dayofweek({?date})+2 else
if {?date} = date(2999,9,9) then
{table.date} = currentdate-dayofweek(currentdate)+2 //current week's Monday
//or last week's Monday
{table.date} = currentdate-dayofweek(currentdate)-5
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