I can't seem to reproduce this on my system, and maybe I don't understand the nature of the issue. The player in Mr. Friendly does float by design, but you should be able to float around to objects and characters and interact with them. Can you use the mouse to look up and down? Flying forward when looking even slightly down should put you in interact range of objects if you're too high above them. You can also press F to toggle the floating off altogether, if you'd prefer to walk.