Please download 4.0 package and update again, we fixed a problem in admin_php build, the earlier build depends on libjpeg.so , which may not available on your server. the latest build is statically linked.
I think the code use GPL license, even lighttpd or nginx cannot include the code in the official distribution.
We cannot include any GPL licensed code in our product.
can you "truss" or "ktrace" the admin_php, see if it get the request?
You can enable debug logging for admin console by changing lsws/admin/conf/admin_config.xml, <logLevel> from "ERROR" to "DEBUG".
if cannot connection form localhost, then localhost was blocked.
and you should not expect the admin console will work for localhost.
Also check if there is "admin_php" running when you access the admin console, there should be.