So 2 years ago when I started building my house I purchased a ClimateMaster 060 TCW water to water heat pump. At the time of purchase I didn't know it was designed for an open loop system. I have a closed loop system for my house. As far as I can tell the only difference is the heat ex changer, the open loop uses a coax and the closed loop uses a braze plate. So my question is will this work on a closed loop non-pressurized system and if so are there any modifications that I would need to make?

The original Water to Water units all had Coaxial Heat only for all uses. It took the manufactures a longer time then I would have thought to switch over....I think you will be fine the plate heat exchanger are more efficient....

Ok, that's what I am hoping. Also with reading the installation manual it talks about entering water temp to be 50F and I'm wondering if it might have some kind of low temp shut down that I may need to bypass?

There should be charts of all the temp options....in the winter I have well water entering at 50 deg F and in the summer I have 70 degree water entering with no problems. Though having a climate master unit at my last house I do not have one now.