It's probably safe to say that no real track bike (built for velodrome sprinting) was ever designed for use with 27" wheels. In any event, I'd set that bike up with the correct 700c wheels and tires no wider than 25 mm ASAP.

Real track bikes such as that one have less bottom bracket drop than road bikes, which means that the top tube is higher and the head tube is longer for the nominal size. Also, the extremely short wheelbase, steep angles, and abbreviated fork rake dictate a short top tube.

In short, aside from having the wrong wheels, there's nothing unusual about that bike or its geometry.