It actually cools the heat pump. The only thing that will happen if the pump does not start is the compressor will go out on over pressure or temperature. Either way it's double protected for this reason.
jhall,
I'm sorry, but this is not something that I would use X10 for (or any automation technology for that matter).
The over pressure/temperature systems are designed for protect the system from
catastrophic failure in the event that the cooling pump/switching system fails. The pump and switching system have a predictable reliability and I would assume that the backup system has taken that into account.
By adding X10 to the mix, you are increasing the likelihood of a pump malfunction. The pumping system has been designed to provide years of service. With a good X10 system, you might expect 99% performance. Run the numbers and see how many missed actuations that comes up to over a one year time frame. If you are lucky, this added stress cycling will simply wear out the compressor system earlier than it was designed for. If you are unlucky, you will wear out the protection devices and suffer catastrophic failure.
Using my favorite auto analogy, manufacturers put emergency breaks on cars in the event of a primary braking system failure. Anyone that has had to use them can attest to the fact that they are a last resort. Using the system repeatedly will quickly wear out the backup and result in catastrophic failure (Bill Gates calls this a crash).