I can confirm that adding
"127.0.0.1 update.libreelec.tv"
"127.0.0.1 releases.libreelec.tv"
to
/storage/.config/hosts.conf
results in the libreelec settings addon starting as expected.
FWIW it does not seem to have this problem when I use a wired connection at home, however, it does when on the road and using usb tether to my phone.