It seems like there is just a simple typo error:
Corrected code:
<input onclick="change()" type="button" value="Open Curtain" id="myButton1" />
...
function change()
{
document.getElementById("myButton1").value="Close Curtain";
}
A faster and simpler solution would be to include the code in your button and use the keyword this to access the button.
<input onclick="this.value='Close Curtain'" type="button" value="Open Curtain" id="myButton1" />