First off, IEEE is a standard set by the industry to attempt some sort of compatiablity instead of having 400 different variants on the same technology. 1394IEEE would mean the Firewire standard.
Second, 1394IEEE will show up in WinXP Network Connections by default if you have a firewire port. It does this to attempt and simplify network connections via firewire, normally it just ends up confusing the end user.
This is not going to be your primary network connection. If you have a network port, then mostly likely one of two things is the culprit, the network port is turned off in your bios, or the drivers for your network card need to be installed.