I would think that integers would allow for better compatibility seeing as a numbers a number no matter what just expand that data type size of the column. The fact that ipv6 allows you to write the same address in multiple ways using the :: notion to denote a single span of zeros means there are a multitude of string representations of the same address.
inet_addr_t some_var = inet_aton("123.456.789.123");
The way you represent constants in code doesn't have to be a direct correlation with the way you store their representation.
I'm not super thrilled to debate the performance merits of optimizing 16-byte strings vs. 4-byte integers. I use whatever is most convenient. It's slightly easier to convert a charstar to a u_int32_t, but it's much easier to index a u_int32_t.
At any rate we are talking about two different things.
if you have the ipv6 address 1234:0000:5678:0000:0000:9212... you can write it a number of different ways, using the :: abbreviation for the various runs of zeros. ipv4 really doesn't have that pit fall in the string representation of its addresses.
So, if you store it as a string one way and then latter when you get input that has the same address written another way you are going to have problems if you don't normalize. Since we are talking about storing in a database, as the parent to this chain was you would likely want to normalize to the most compact representation to save space in your database. The precise type semantics of your language of choice are irrelevant.
http://docs.python.org/library/socket.html#socket.inet_pton
Edit: Ooh, and Py3k has the ipaddr module: