Hi Daniel,
The function Switch_mode() in Boot_loader_task.c checks if there is a valid application, and will jump to it if present. It looks for a non-erased flash location at the initial PC and SP location in the application vector table. In the K60 example, it reads address 0xA000 and 0xA004 for these values, using the pointer IMAGE_ADDR.
With the TWR-K60N512, you can test the bootloader using the example \AN4370SW\Source\Device\app\dfu_bootloader\cw10\kinetis_k60. By default, this example has no application programmed in flash, and the bootloader will load. Then you can use the DFU to program one of the example applications in \AN4370SW\image_files\K60.
NOTE: be sure your TWR-SER board is setup in USB Device mode for this to work. Jumper J16 needs to short pins 3-4; the middle pair.