I received a WL book but it is damaged.  I marked it RWAP but have not received any response yet.  Its been 5 days.

Now I am offered the book again and don't know what happens if I decline this current offer waiting to resovle the first one and hopefully get my credit back.  How does that effect my position on  the WL?

When you marked RWAP, you were put back at #1 on the WL.  If you decline now, the book will be removed from your WL and you'll have to start back at the end of the line, just like with declining any WL offer.  You'll need to decide if you're willing to spend another credit on the book for a good copy.

If the RWAP sender does not get back to you within a week of you PMing them, then use the "contact us" link to let the PBS team know.  The one thing you can not do (even if you don't intent to return the credit) is ignore a PM.

Ignoring PM's about RWAPs is against the rules. If they did not respond within a week submit follow-up. There is an option under the "Was this problem resolved" button (found in your transaction archive) to select specifically for "sender did not respond to PM" which shoots the sender a warning PM. Details here: http://www.paperbackswap.com/help/help_item.php?id=590

ETA: Please go this route before using the "Contact Us" button, since the team will likely respond back telling you to do this anyway. Hope you work it out!

The Help Center has been recently changed regarding the timeline on a RWAP:

You should give the sender a week to respond.

We suggest this text: "Thanks for sending the book.  Unfortunately there is a problem [explain the problem here--if this was an unpostable book you can say that the problem "makes this unpostable by site guidelines, and I won't be able to swap the book again"].  I would like a credit refund, which can be accomplished by clicking Give Refund in your transaction archive on the Request Details page for this swap, and I will be happy to mail the book back to you if you will provide postage."

• If the sender does not respond to your PM within 5 days, submit this information in follow-up from the transaction archive.  This will send an email to the sender, prompting him or her to log in and deal with this problem swap.  If the sender does not respond to that email within 2 days (a total of 1 week since your original PM), contact us.  Failure to respond in an active account is considered admission of fault.
  

• If the problem is resolved by the sender, submit that information in follow-up from your transaction archive.

• If the problem is NOT resolved by the sender (and negotiations are finished), submit that information in follow-up from your transaction archive.

As you can see in the part I underlined, since the member has not responded to you and it has been 5 days, you should go into your Transaction Archive and update the status of the RWAP to *sender did not respond to email*. That will generate an email from the system to the sender telling them they need to respond to you. After you have done that, give it 2 more days and then contact the Team using Feedback.

The outcome of the RWAP shouldn't have a bearing on the current transaction unless you need that credit to re-request the book.  You should have 48 hours from the offer to accept the new offer, so I would update the status on the RWAP now and see if they get back to you.