Hey, you beat me to it. They should add a .htm in the zip so people can just double click on it.
The idea of this client-server model is that a server part could run anywhere. At your home, work or some rented computer. So it is accessed through IP address which could be any.
It is just used to alias local computer's IP as 'localhost'

I know. But, I think most people will access it on the PC they run it on. They won't access it from another PC on their network. And, for those that do, they won't be clicking on the wallet.htm file.
So, for a person that doesn't really know what localhost is and tries to browser to localhost.com or whatever this will alleviate their problem.
1. Download
2. Unzip
3. Double click run.bat
4. Double click wallet.htm which redirects to localhost:7886
5. Bookmark/Favorite