http://docs.djangoproject.com/en/dev/howto/deployment/modpython/ :
Running a development server with mod_pythonIf you use mod_python for your development server, you can avoid the hassle of having to restart the server each time you make code changes. Just set MaxRequestsPerChild 1 in your httpd.conf file to force Apache to reload everything for each request. But don't do that on a production server, or we'll revoke your Django privileges.
If you're the type of programmer who debugs using scattered print statements, note that print statements have no effect in mod_python; they don't appear in the Apache log, as one might expect. If you have the need to print debugging information in a mod_python setup, either do this:
assert False, the_value_i_want_to_see
Or add the debugging information to the template of your page.
ps. а зачем на хостинге перезапускать? Когда MaxRequestsPerChild израсходуются, изменения сами вступят в силу.