I purchased a package of seeds this year that came with instructions. It states to soak the seeds for 48 hours. I notice that some of the seeds floated and others sink to the bottom. Does this mean anything?

No. My experience is that they will germinate both if the seeds float or sink. Some OT seeds i grew this way this winter had a fantastic germination after this treatment. The pots have a forest of germinating lilies.

Thanks