BTW, valid local area network address have to start with 192.168.x.x or 10.x.x.x, Using 169.254.138.247 for your local IP address will cause you problems.
You can use any IP address for your internal network, it does not have to be one of the IANA designated private IP address ranges below
10.0.0.0 - 10.255.255.255
172.16.0.0 - 172.31.255.255
192.168.0.0 - 192.168.255.255
but you'd be a blithering idiot
Technically you can use any IP for your internal network, but you'd be a blithering idiot if you didn't use one in the IANA designated private IP address ranges.
Sadly I know a few security conscientious enterprises that do as they think it makes hacking their internal systems a little bit more difficult, when some ones tries to connect to the IP of an internal system from the outside they just end up getting routed to China! Not saying it is either right or wrong and it does have its uses.
You can do that without altering your internal network IP structure, a sophisticated firewall (not like the ones in a normal home router - you'd need a Routerboard or better) can do that easy enough if you want. We use ours to send people to the U.S. FBI website - hehe.
They may think they're being cool, but changing your internal network IP's to use ranges outside the IANA standards just leaves you more exposed - it would only deter NoOb hackers, but make it far EASIER for those who know what they're doing. Fortunately most hackers are script kiddies with little knowledge, you would need to be a desirable target to be hacked by a pro. One of the best advices to give people who are concerned about hacking is "keep your head down", be very quiet about what you are doing.
If I temporarily change the computer to a fixed IP, will it screw up my server settings. etc?
In other words, when I switch back to DHCP, will everything go back to normal or will have to reset a bunch of things?