Thanks for choosing Veritas! As for your questions:
1. I think two practice tests per week is overkill, and isn't worth it at the expense of actual study time. I think 15 hours per week is good, but I'd change that to 4 hours for a test and 11 hours for study/review (broken out over 4 or 5 days), plus class time. Personally, I went from high 600s to 760 with that study schedule.
2. I think one week after class ends is a little on the low end, but it depends how well you keep up with the work during the class. If you're really on top of things for the whole 7 weeks, you should be fine. However, my experience has been that most students need a little extra time to catch up on stuff, finish leftover homework, review concepts from earlier classes, etc. I recommend waiting 2 to 3 weeks, but not longer, since then you'll start to forget what you learned in class.
Hope this helps!
Jim S. - Veritas Prep GMAT Instructor (Los Angeles, CA)