As Macro explained, port 0 just means let the OS select a random port. The problem is not the port number, but the IP address of the interface. (CMUCL's error message is bit misleading here.) SLIME used to bind the socket to the interface "localhost", which is usually the loopback device 127.0.0.1. Apparently this is not the case in your configuration.
I changed SLIME so that it binds the socket explicitly to 127.0.0.1. If this doesn't work, you can set SWANK::*LOOPBACK-INTERFACE* to a more suitable value, e.g., your hostname or "0.0.0.0" (which means "all interfaces").
I also fixed the bug Macro mentioned. That was just a stupid typo.
Helmut.