FWIW, I had this very same problem and was able to deduce a solution starting from the clues provided here.  First go to the CMD prompt, and ping the localhost ip address:

C:Usersdanborn>ping 127.0.0.1 

Pinging 127.0.0.1 with 32 bytes of data:
Reply from 127.0.0.1: bytes=32 time<1ms TTL=128
Reply from 127.0.0.1: bytes=32 time<1ms TTL=128
Reply from 127.0.0.1: bytes=32 time<1ms TTL=128
Reply from 127.0.0.1: bytes=32 time<1ms TTL=128

Ping statistics for 127.0.0.1:
Packets: Sent = 4, Received = 4, Lost = 0 (0% loss),
Approximate round trip times in milli-seconds:
Minimum = 0ms, Maximum = 0ms, Average = 0ms

You should get results similar to above, else read no further...you've got other issues to solve first!  Next, ping the localhost by name:

C:Usersdanborn>ping localhost

Pinging CANOPUS [::1] with 32 bytes of data:
Reply from ::1: time<1ms
Reply from ::1: time<1ms
Reply from ::1: time<1ms
Reply from ::1: time<1ms

Ping statistics for ::1:
Packets: Sent = 4, Received = 4, Lost = 0 (0% loss),
Approximate round trip times in milli-seconds:
Minimum = 0ms, Maximum = 0ms, Average = 0ms

If you get a reply address that is anything different than 127.0.0.1, like I did in the example above, you need to edit your local hosts file, usually located in:

C:WindowsSystem32driversetc>dir hosts
Volume in drive C is Canopus_C
Volume Serial Number is 6CA5-F5A0

 Directory of C:WindowsSystem32driversetc

01/22/2011 01:47 AM             824 hosts
      1 File(s) 824 bytes
      0 Dir(s) 6,119,591,936 bytes free
 
Note that there is no file extension.  Following is the contents of my hosts file, with the #-sign comment-character you need to edit removed on the second-to last line:

Copyright (c) 1993-2009 Microsoft Corp.

This is a sample HOSTS file used by Microsoft TCP/IP for Windows.

This file contains the mappings of IP addresses to host  names. Each

entry should be kept on an individual line. The IP address should

be placed in the first column followed by the corresponding  host name.

The IP address and the host name should be separated by at least one

space.

Additionally, comments (such as these) may be inserted on  individual

lines or following the machine name denoted by a '#' symbol.

For example:

102.54.94.97 rhino.acme.com # source server

38.25.63.10 x.acme.com # x client host

localhost name resolution is handled within DNS itself.

    127.0.0.1    localhost

 ::1             localhost

Then save the file, restart Queue Manager (it may be necessary to restart Poser or your computer if FFRender is hanging in memory) and see if that doesn't toast your muffin...it most satisfactorily did for me!

Have been working with PC's and networks close to 25 years and this '::1' address for localhost is a new wrinkle to me....and evidently also to the authors of Queue Manager.

Danborn