Actually, Muslims consider that verse (Qur'an 2:62) as abrogated (repealed)...
It's abrogated by verse 3:85
" 85 If anyone desires a religion other than Islam (submission to Allah), never will it be accepted of him; and in the Hereafter He will be in the ranks of those who have lost (All spiritual good). "
read more in this article -
http://wikiislam.net/wiki/Christians_Jews_and_Muslims_in_Heaven
Abrogation absolutely makes no sense, how can God/Allah, an all-powerful, all-knowing entity, repeal His commandments? Wouldn't an all-knowing entity already know the effects of His commandments before they occur? What's the point of changing them? None...