Hello,
127.0.0.1 is a Loopback address / localhost address
You can check the hosts file which you find under : C:\WINDOWS\system32\drivers\etc
127.0.0.1 is a localhost address.
When you log in as an admin inside SEPM console version 11, it shows Server as
localhost:8443
which in return when you check the Administrators TAB under Admin, you would see the Admin as IP address 127.0.0.1
However, when you check under Servers Tab> you would see the IP address of the server.
NOTE: This is not the Case with SEP 12.1, on login screen of SEP 12.1 instead of localhost:8443, you would see: <computername>:8443
Hope that answers!!!