BytesForAll verified it was simply checking for an update and I have also since found the location, it only does that on theme-management screens and uses as little bandwidth as a handful of a few pings. Although I did find a way to disable the "auto update" option , I was keen to place my own comment in the line.
Reason: I had made a lot of modifications to theme files that I couldnt find plugins for or Athupata options. Like changing bulleted appearance and small things like that, updating the theme erases all those changes.
It's a simple iFrame line in functions.php around line 216 in my version (v3.3.2).
216 <table width="100%" cellpadding="2" cellspacing="0"><tr><td valign
="middle" width="380"><h2 style="margin:0 30px 0 0; padding: 5px 0 5px
0;"><?php echo $theme_name; ?> Theme Options</h2></td><td
valign="middle"><!-- *****commented out iframe to disable
update*** <iframe src="http://wordpress.bytesforall.com
/update.php?theme=<?php echo $theme_name; ?>&version=<?php echo
$theme_version; ?>" width="98%" height="40" scrolling="no"
frameborder="0"></iframe> *****end comment**** --></td>
No worries, copyright, credit, and licensing is still in there, hehe. I just took out the explanatory comments for areas I could easily identify... no biggie, just something I do with everything - field stripping it like an MRE pouch. While the GPL allows for modification under certain conditions, I think its reasonable for BFA to get the occasional ping - after all, If I had put that kind of massive effort into a project, I'd also like to know how many people were using it.
Resolved as far as I'm concerned.