Indeed, it is just a convention. We say that a real number $\alpha$, say in the interval $(0,1)$, is ultimately periodic (in base $10$) if there are two finite sequences of digits (usually called words) $U = d_1d_2\dotsc d_n$ and $V = d_{n+1}d_{n+2}\dotsc d_{n+m}$ such that $\alpha = 0.UV^{\omega}$ in decimal notation, where $V^{\omega}$ stands for the concatenation of $V$ with itself countably many times. The words $U$ and $V$ are called the $preperiod$ and $period$ of $\alpha$, respectively.
As you noticed, if a number is ultimately periodic there are infinitely many choices for $U$ and $V$, and we are free to choose the one that best fits our purposes at a given time. This usually means a representation where the lengths of both $U$ and $V$ are minimal.
I have no clue why Wolfram Alpha gives that particular representation, though. A possible explanation is that internally it represents the period as an integer, so it would lose any leading zeros unless they were included in the preperiod.
1/111and10/111? – Wolf Mar 19 '15 at 12:191000/111... and here the convention of WA seems a bit "idiotic" - have a look... – Wolf Mar 19 '15 at 12:25only digits in the fractional partthanks for clarifying. I wrote a bit before the harsh word, but... – Wolf Mar 19 '15 at 12:28