Usually the loopback 127.0.0.1 is named under localhost.local.com or something... I cannot remember exactly but its the name of the system... Sometimes when loading it changes it to something arbitrary and unusual: S118603132feafd85

S118603132feafd85 is the hostname given to your interface from shaw.

Check /etc/hosts for some static definitions of localhost.

nslookup [your external ip] should give S118603132feafd85.xx.shawcable.net

(I'm on shaw as well, I get a similar hostname.)
Note you can change your system hostname with the hostname command, or a config file in your network scripts to override shaws name. I'm guessing it really depends when you boot the system, whether you have internet connectivity or not.

Hope something in there made sense,
Cloak

That all makes perfect sense actually.
I think I understand why it sometimes changes it as well...

See now and then I just plug straight into the cable modem instead of through the router (when no one else needs the network). I assume it is on those occasions when I boot that I get that funky name.