I started a freespec with the /respec command, I had Hover activated, I think. After I finished the respec, I was still flying, and could fly around, but I had no flight power activated.
The flight that I got seemed to be similar to what happens when you have Hover on, but get mezzed. There was a lot more drift that compared to the normal fly powers.
See the attached screenshot with the best proof I could manage. Zoning seemed to clear it out, everything was back to normal after that.