Just to confirm that you understand why you need "live".
That is the mount name that Icecast uses by default. If you didn't change the config file for Icecast, then most likely your settings just happened to work.
If you go into the config file, you will see an area called <mount> and can create multiple mount names.
You can get to the Icecast status screen by using the IP address and the port number. For example, mine is
http://sacscannerfeed.no-ip.org:8080
Also, if you set up the admin login information, you can kill the server source, move listeners, kick listeners, and look at some statistics. Helpful if you have a single IP with a bunch of open connections that's obviously in error (or any other problem).