I've just got my 1st guitar with a Floating trem and it is said to be tuned to standard from the factory...initially the trem looked equally balanced and leveled with the body of the guitar (Figure 1). But when I plugged it in to the amp for the 1st time, I noticed it was out of tune, so I tuned it back to standard. But now, the tremolo seems to have gone upward due to the tension of the strings (not sure if this is the cause) like shown on figure 2. My guitar seems to be in tune but my question is... is this normal with floating trems? If tuned to standard, is the trem supposed to go upward? Does this also happen with your floating trems guys?

you should take it in to a good guitar shop, generally you cant change tunings or string gauges or else the trem will spaz.
tighten the strings in the back till the bridge is level. not hard.
Quote by corduroyEW
Cheap amps are "that bad". They suck up your tone like cocaine at Kate Moss' party.

I am Michael!
the floating trem has to be balanced between the strings and the back springs. you can leave the trem up a bit, steve vai likes it that way because it allows more room for up bends. You can make it sit more down for less room as well. If you want it level, tighten the springs in the back till it's level, then retune. If the bridge is still up, repeat the process.
Out here you've gotta know where your towel is!
its due to the tension of the strings changing due to them becoming more streatched, like any set of new strings. all you have to do is tighten/loosen the screws in the back of the guitar, where the springs of the trem are joined to the guitar body (these are the blue screws in your diagram, tighten them if your bridge is like in diag III, or loosen if like diag II) you only need to slightly change these, its a sort of trial and error process, but really doesn't take long. Make sure that you alter each screw by the same amount, ie if you have 2 screws, try turning each of them a quarter turn, go back and tune up, see how that looks, repeat etc. etc.
yeah, tighten the trem claw using the springs, or just add another spring, fixed the same problem for me.