Your esc has thermal protection but does not have the low voltage cutoff you need to run lipo. It can run lipo as far as the voltage is concerned, but you're on your own to prevent overdischarging a lipo since there's no lvc. You could add a separate add on type lvc if you wanted to. Here's the spec on the esc -

http://www.dynamiterc.com/ProdInfo/F...structions.pdf