Please any of the following to your hosts file (/etc/hots on Linux, C:\WINDOWS\system32\drivers\etc\hosts on Windows):
and use magento.localhost.com or www.localhost.com for your local installations.
127.0.0.1 magento.localhost.com www.localhost.com
Will an update be released to fix this?
No, we (I mean developers of ecommerce applications in general) should care more of our customers’ live sites security, than of typing a few extra chars browser address bar in local development environment.