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[edited by: Robert_Charlton at 11:06 pm (utc) on Nov 3, 2012]
[edit reason] added clickable link [/edit]
it is possible that is the average rank when your site does show up in search results
it implies that your page is either #1 or it doesn't show up at all.
GWT doesn't distinguish between the two unless you tell it to.
I think it is a bug, I see the same stupid reports that tell me that every single page of my site is in position 1.0 and I wonder 1.0 of what? It certainly is not in position 1.0 of anything I can find.