Can you Tail -f /var/ltm/logs and specify what IP you DO NOT want to see?

grep -v is your friend here...

tail -f /var/log/ltm | grep -v replace_ip_here

That will show you all lines, EXCEPT ones that contain the IP address you don't want to see. If you want to filter it further, just pipe (That's the vertical bar) through another grep. or you can use egrep and a regex in the filter.

H