A feature was added in 1.3.2 that allowed players to hide the IPs of the servers in your server list, which is very useful for streamers who want to protect the addresses of private servers. Some time between then and now, this feature stopped working, and it was not noted in the patch notes as far as I am aware. It would be nice for this to be fixed, for the privacy of players.
Here is an image of how hiding the IP of a nonexistant server appeared in 1.3.2:
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Following the previous comment, IPs aren't displayed within the server list in the first place. The only way to access a server's IP is by selecting the server and clicking the "Edit" button. This report is invalid.
This was changed in 13w41a, at the same time as server icons were added. Since then, server IPs are never visible on that screen, so this feature is no longer needed.
FWIW, if there's a server that shows its IP there but you want to hide it, the server places the IP there itself via the MOTD (the text shown below the server name). If you're the owner of the server, you can change the MOTD to remove the IP address - otherwise ask whoever owns the server to do that for you.
To my understanding, IPs no longer appear in the server list at all