How can it screw up the O2 sensor?
ive ran it in fuel injected vehicles ( with O2) sensors for YEARS, probably hundreds of gallons of it ( I used to do small engine repair, and I burned all the old fuel from stuff people brought in) and NEVER had any problems at all from it.
you've actually got the loop mode backwards too.
closed loop is without any sensor feedback upon initial start up, its a rpeset fuel and timing delivery map.
after temp comes up, it goes into OPEN loop and starts to make changes based on input from the various sensors, temp and O2 and such.
it also reverts to closed loop in the event of an error, or misreading sensor ( check engine light normally throws a code)