Disclaimer; I have not used float-testing myself, but...I read in an article that said "checking viability of hatching eggs using the float test" that you can use it to check for the position it's in too, for example, if it sinks to the bottom it was either infertile or it died. There are also several youtube videos on using the float test and using the position to tell if it's alive or not, but maybe i'm wrong. And no i don't, i have an incubator for my duck egg and another incubator for my quail eggs
It sounds bogus to me; A float-test would test the density of the egg, so unless a developing egg changes density besides air-loss, then the float-test actually only tests how much air an egg has lost (for eating-purposes this means the float-test is a rough estimate of age of the egg - rough because humidity plays a huge role here, not just age).
If an egg sinks to the bottom that would indicate that there is no air-pocket, or that the air-pocketi is small. Close to hatching-day the air-pocket is supposed to be small, so wouldn't that make them sink? And an egg with a larger air-pocket would float, but in both cases you could have a live chick.
Better to candle and post the pictures on this forum and have the experts (not me, I'm a noob) judge by them