I have downloaded OOO 1.32 (old version I know) and I am running Vilvering, much harder and exciting!. Anyway, I killed a Spectral Wolf and couldn't loot his body "My hands freeze as I thouch the corpse" and says the same thing when I try to loot a Spectral Guard or pick up his hammer.

How can I bypass this? Frost resistance or something?

It's a spectral hammer, you can't pick it up .

Is that just a guess or is that the actual point of the spectrals?

You can't loot any spectral wolves, though if I remember correctly there's a quest that allows you to use spectral weapons. Check the OOO spoilers page if you want more information, or try to find it on your own.

Will do, thanks.

The spectral wolves don't have anything to loot, but there is a way of picking up and equipping spectral weapons.

I would be ruining all the fun you'll have finding out how to do this if I told you how, but it involves a certain quest in OOO and finding certain items to do so.