I don't know exactly what situation you are trying to avoid, but with the standard bcrypt, if somebody has the IP hash and a candidate's specific IP, they can positively match the two (something you specifically mention on your privacy page).
One possible tweak is to continue using bcrypt and a salt, but instead shorten the hash output to something like 24 bits. This way it still cannot be so easily reversed or rainbow-tabled, and collisions still shouldn't be an active problem. However, it wont be possible to positively match a given IP to a hash, since multiple IPs will likely hash to a given output. Granted, if you have a candidate IP and it matches the output hash, there is a very high probability that it was the source IP, but it wouldn't be 100%.
One possible tweak is to continue using bcrypt and a salt, but instead shorten the hash output to something like 24 bits. This way it still cannot be so easily reversed or rainbow-tabled, and collisions still shouldn't be an active problem. However, it wont be possible to positively match a given IP to a hash, since multiple IPs will likely hash to a given output. Granted, if you have a candidate IP and it matches the output hash, there is a very high probability that it was the source IP, but it wouldn't be 100%.