A couple common misconceptions to discuss here. When calculating tank volume, you add display tank, ACTUAL water in the sump (if you have a 40 breeder, you're proabably only having 30-35gal of water in it), and then subtract a little for the rockwork. So you're probably near 170 gallons of water volume in your system. I personally would suggest larger water changes than 5% if you want to use a weekly regime. 10% at least, if not 15%. I'm not a fan of weekly changes though, it drives me nutty. I do 80% quarterly (3 months), but that's just me.
Once mixed, seawater does not "go bad". Changes to dissolved CO2 and thus pH can create minor calcium carbonate formations which alter calcium and magnesium a bit, but it doesn't spoil like milk

. I would however advise covering it to keep excess dust out and prevent a nice "film" from rising to the surface if you're going to store it for more than say a week. Covering it will also reduce evaporation and reduce the need to add more RO water when you're goin to use it.
I'm with everyone else that mixing in large volumes when possible is very nice. Are you mixing in your basement? Is it well insulated down there? How do you plan on transporting the mixed water? Important questions

. I personally have 2 large reseviors in my basement. My old 45g display tank is my RO water resevior which I use for topoff. Next to it is a plastic 55g drum that was formerly ethanol storage which I use for mixing seawater. I wrapped the 55g in insulation because my basement is not well insulated, and getting mixed water up to temp is challenging without the insulation in the winter months. Since my tank is on the 2nd floor and the water in the basement, I hate lugging water, and I'm doing 80% changes, I need to do it quickly. Thus I use an Iwaki MD100RLT plumbed to the mixing drum to push water the ridiculous length to my tank. The pump is operated via a relay, the switch being on the 2nd floor for my ease of use. You may not need that elaborate of a setup, or may even enjoy th exercise of lugging 5g buckets around, but I hate it

. Regardless, I have an old, ratting maxijet mod pump in the 55g drum, and an old heater in there too to mix and heat the water. I use a water timer instead of a float valve to control my RO output, but that's just me. Your own setup will depend on your own needs.