Not really a problem, just might be an issue if you can't control how high the water is inside the skimmer itself. If the water level is too high, all of the crud will overflow into your sump (defeating the purpose of the skimmer itself). If the water level is too low, then you won't really get any skimmate production at all that gets put into the cup. See if you can put a ball valve on the outlet (even if you have to alter it a bit, or add on to the pvc
From the pics, I gather that the outlet is that big white PVC
pipe... if so, you could easily add in a ball-valve from HD
or whatever (most likely 1/2 inch... or 3/4 on the large end). By limiting the outflow pipe, it'll alter how high the water is inside of the skimmer. Try it yourself... put your finger over the outflow and I'm sure the water will rise inside of the skimmer. If the unit seems to be working fine, then just see how it goes day by day. Just make sure the skimmer is in a place where the water remains at a constant water level.
About your micro-bubbles... did you add a bubble trap? (baffles before the return pump). If not, try it, and also try adding a sponge to the outflow. A sponge will generally keep most bubbles from gathering into your return pump. HTH