Well you really shouldn't have bought this seeing as it's freeware. But to answer your question that software you purchased is not bootable. It is a VMware virtual machine meaning you need either VMware player, workstation, server, or ESX to host the virtual machine and make it usable. The product page for linuxcd.org says this clearly: http://www.linuxcd.org/view_item.php?id_version=4167.
Please realize this is not really Google's Chrome OS, it is a flavor of linux that has a bunch of Google software pre-installed and is made by SUSE NOT Google: http://susestudio.com/. The only real way to get ChromeOS that I know of at the moment is to be a part of their CR48 pilot program or be an employee. Future netbooks planned to be released this year will contain Google's Chrome OS. As far as I know right now there are no plans to release ChromeOS as a stand-alone bootable/installable OS. It will be custom tailored to the hardware it is being put on at first.
If you wish to make a live cd or install this (fake) version of Chrome as a primary OS yourself visit the actual project pages here: http://getchrome.eu/download.php. Another place offering something that is very similar can be found here: http://www.chromium.org/chromium-os/chromium-os-faq#TOC-What-s-the-difference-between-Chrom. Again, neither of these is an OS supported by Google themselves, it is just based off of their open-source code projects.