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Bug 169603 and bug 322917 added new arguments for the -console command line option and a new property "osgi.console.enable.builtin". These should be documented in /org.eclipse.platform.doc.isv/reference/misc/runtime-options.html
I will update the docs to include the options to specify the host address, but I am not going to document osgi.console.enable.builtin. This option is not something we want anyone to use and the built-in console implementation is going to be removed in luna.
Fixed in commit: http://git.eclipse.org/c/platform/eclipse.platform.common.git/commit/?id=e19cb4d15489c0d835a77f40d5d5292f6dabff52