I am using hotspot and am wondering what the ip guard and the proxy settings on the pilot program can do to help keep me anonymous. I cant find any posts about the ip guard or proxy tools.

If you use proxy to connect to internet, you may need to add proxy address to eve in order to connect eve to server. This is not a security measure. IP guard is useful if you want to be anonymous and connect to internet via VPN. When VPN is off your real IP address is revealed. IP Guard may check if you have real IP or IP defined by your VPN and dont start eve online if your VPN does not work. You need to know and define fake IP (or part of it if IP is dynamic) to the IP guard field. A;ternatively you may block all internet traffic in firewall besides traffic via VPN.