After updating to user_restrictions-7.x-1.0 in drupal7, I can no longer run cron from another host
The User restrictions module just restricts which users can log in basing on their username and email address; if the username or the email address matches a regular expression set in the module settings, the user is not allowed to log in. At the same time, the module doesn't allow users to change their usernames or email addresses to values that match those regular expressions.

The modules doesn't restrict user access basing on their IP, since that functionality is still present in Drupal 7 core, although Drupal core just allows you to set an IP address, not a range of IPs to ban.
If you are experiencing what you reported, then it could a module bug. Report it in the project queue, once you verified there isn't a issue already opened for that, and that the module is really the responsible for that behavior.

Disclaimer

I am the maintainer of the module, although I didn't change the module code recently. I don't plan to develop any Drupal 7 module, since I am focusing on Drupal 8 development.