If you used a plugin to move the site. I use WP Migration for instance. When you install the migrated version to your local environment, the plugin will change the domain to whatever your local domain is. In your case it is 127.0.0.1. The reason it does this is that many of the options are stored in a serialized array. If the original domain name has a different number of characters than the new sites domain the serialized arrays will be unreadable and all the settings will be lost.
I think that is what you were asking. Or was it that the style.css?ver=3 part was missing the style.css?