Searching for IP addresses does not yield desired results because periods are indexed as spaces.
Method 1: With standard indexing, you should be able to successfully perform an INDEX search for a specific IP address by wrapping it in quotes (e.g. "192.168.255.1")
Note: You will get "4 Hits" for each successful find because as the period is a 'space' making it 4 words, thus the 4 Hits.
Method 2: In a case processed with TR1 indexing enabled (refer to the user guide on how to do this), you can perform the same INDEX search without the quotes (e.g. 192.168.255.1)
Note: In a case processed for TR1, this is a pattern search that should find all IP addresses in the indexed files (include quotes's(") in your search):