it could be...the level should be in between the two metal ears on the sight glass...if its really high, fuel will pour out of the bowl vent and go down your secondary.  did you turn the carb upside down when it was off? bad move if so...try getting it running at about 2000-2500 rpm and clamp off your fuel line...let it run out of fuel...do this a couple of times, and if there is something stuck in/on the needle and seat, this can dislodge it.  also, float could have a hole in it. it only started doing this after you pulled the carb, right..IE, it was OK before? 

EDIT: if you banged or dropped the carb while it was off, it could've changed the float level setting, which would cause your high level.