You stop the float effect and just stand normally and can jump about but still keep the safe fall effect.
To do it, cast levitate on yourself and make your self D/c, the way I did this was to spin (using the mouse) wildly until I got a d/c, after relogging in you still have the buff but stand instead of float.
-Edit-
I deem this useless now, tested and the stick to wall effect doesn't work.