It should be ok, but check if it has a lipo cutoff built in...I'm pretty sure it doesn't...
You can get a separate cut off easily enough though...novak smartstop 2S for example, which turns the esc off when the voltage gets near to its low voltage level.
The lipo will be able to deliver a lot of power to that system...it's not a massively high specced one, but it is only a relatively low powered motor so hopefully it won't be drawing too much current either. I'd suggest keeping an eye on how hot the esc/motor is getting...too much heat in the system is a bad sign! Something higher specced may be better long term if your getting more serious about it!
In case your not familiar with lipo's, if you run your lipo down tooo much (to below 3.0v per cell, so 6.0v on a 2S pack) you could damage the battery, and damaged lipo's can be pretty dangerous if not handled correctly. They won't charge properly, hold charge well or run well after they've been over discharged. Even slight over discharges can reduce the performance of the cells dramatically.
It's not as bad as it might sound, it just needs a little respect and care. The cutoff will prevent you damaging the battery and mean there is no chance of any bigger problems
Hope that helps!