Yup, you have a very high lift, undercambered wing there, and when you pour the power to her she climbs like a bat out of hades. In order to cruise straight and level and about 2/3 throttle the prop shaft is offset downward so that the plane is neutral at whatever cruise throttle setting they chose.
I don't have a Champ, but if you look carefully (or not so carefully. Micros' thrust alignment looks really exaggerated to the eye!) you will probably see some offset to the right as well. That too, is normal and necessary.