This is not true. 0.0.0.0 may end up at localhost for you, but it's not localhost. I just get:
PING 0.0.0.0 (0.0.0.0): 56 data bytes
ping: sendto: No route to host
From what I can tell, the use of '0' or '0.0.0.0' as a destination address is not official. It should only be used as a source address. From RFC 5735 - Special USe IPv4 Addresses:
0.0.0.0/8 - Addresses in this block refer to source hosts on "this"
network. Address 0.0.0.0/32 may be used as a source address for this
host on this network; other addresses within 0.0.0.0/8 may be used to
refer to specified hosts on this network.
Support for it looks to be flaky. 'ping 0' and 'ping 0.0.0.0' work for me on various Linuxes ("64 bytes from 127.0.0.1: icmp_seq=1 ttl=64 time=0.026 ms"), but not on Windows 7 ("sendto: Cannot assign requested address") or Windows Server 2003 ("Destination specified is invalid").
My understanding is that 0.0.0.0 is the opposite of localhost as binding a daemon to 0 would bind that service to every interface and on any available IP. This means if you have MySQL (for example) listening on 0, it's not just listening on your localhost address but also on any WAN / LAN IPs you have as well.