It was found that in the org.ow2.easybeans.component.hsqldb.HSQLDBComponent Java class that localhost is hard coded in the line 168 that creates the connection URL for testing the HSQLDB database and displaying an info message to the log. It would be nice if this line of code did not use the hard coded localhost, but the hostname from the easybeans XML configuration file; or with OSGI from the Configuration Admin Server Configuration. Here is the line in question.
String connURL = "jdbc:hsqldb:
hsql://localhost:" + portNumber + "/" + databaseName;