1. You need to use two asterisks. Each one will be used as a placeholder for the position it is being used.
2. This could be related to the field being extremely long. In this case, the field won't have enough space to be stored. This can be easily checked by adding new IPs and making sure they are displayed in the textbox.
Also, in order to check if the IP is being blocked or not, you can access https://yoursite.com/ip/<the-ip-address> and make sure the Matches blocked IP addresses label is displayed |