It should be ok to submit a test score from Jan 3rd 2007 for R2 if I submit it on or before Jan 3rd right?
I assume you are referring to the GMAT. In that case, http://www.wharton.upenn.edu/mba/admissions/application-requirements.cfm#a6 provides the necessary guidance. Based on a plain reading of that text, yes, you should be OK submitting a test score from 3 January 2007 as long as it is received by 3 January 2012.
If you have more recent scores, you should also include them in your application.
Thanks for your prompt reply.
I was actually talking about GRE, but should be the same.
Unfortunately Jan 3rd 2007 is my most recent score, so I'll have to go with that.
I believe the same thing applies for the GRE. Good luck!