I feel that the float you are mentioning is simply an aid to help see the fluid level in the window of the master cylinder.
***
I got that notion myself when I was bleeding my front brake this weekend...
As far as the screws... they're disguised to look like phillips head screws, but they're something else

I have a cheap screwdriver with a tray of 20 or 30 different bits... one of them fits perfectly....
I stared at the chewed up rusty ones that were on my bike when I got it for a few years and then
got some new ones from HDL... $2.50 each... could only find black ones to fit locally...
-Mike