Who runs LootWatch?
LootWatch is run by one guy, Sunscorch, who is a spare-time programmer with too much free time. Except not really - LootWatch is sort of crammed in around the edges of everything else he has to do. He aslo sort of hates writing about himself in the third-person. Ugh.
What is it for?
LootWatch came about after Sunscorch saw js41637's loot tracker on reddit. He wanted a more permanent, fully-featured option that was more along the lines of the phenomenal WarcraftPets.com... so he made one. It was just used by him and his wife until he redid the site design and started doing a little publicity work.
What do I do if I find a bug or have a suggestion?
The best thing to do is to message Sunscorch on reddit
with the details, so he can look into it when he gets the time. Which may be immediately, or months later. He is a fickle guy.