For the apache server, 127.0.0.1 is the same as Localhost. This name denotes some directory, which is well hidden, and even administrators spend a lot of time trying to find it. Usually, directory 127.0.0.1 contains file index.html that produces the following error message:
This message indicates that the server is so occupied with itself, that it ignores any attempts of administrator to display meaningful things.
In some cases, 127.0.0.1 refers to directory /Library/Webserver/Documents
In these cases, the file index.php can be modified and other files, directories and/or simlinks can be added, making the served useful. In other cases, the 127.0.0.1 produces the only error message It works! and displays no other files stored at the local server.