That's encouraging! That's not a torn ACL, although the fact that they're getting a second opinion is a bit disconcerting.
Even if it is a knee sprain, chances are the San Diego Chargers won't see Malcom Floyd back on the field this preseason. Expect Vincent Brown or Keenan Allen to take his place as the team's #1 WR for the next month or so, if not much longer than that.
One has to wonder if Mike McCoy and Ken Whisenhunt will change their offensive philosophy due to the injuries to the team's starting WRs, focusing more on the running game, or if Tom Telesco will try to find a way to bring in a new WR to take at least one of the starting spots.