I think it's safe to assume the immortals that can watch IP addresses can get it anytime they want, and likely have it already. Especially the more high profile players. Don't do anything out of line and I seriously doubt they give much of a damn about it.

Not using the bug board because of IP watching is probably a lost cause. Especially when they could get it from the normal posts you make, and your characters in particular are generally not a big secret to the playerbase, so who really cares? Just report the bugs so the rest of the mud can become a smoother running machine for it.