I was surprised at how low the rear sits when floating. The floor is not at all level, not annoyingly so, but noticeably. Just 2 relatively normal sized adults on board. Is there anything that can be done about this other than putting fat guests up front?
My guess is maybe it's due to a 150 on the back of only a 22'?[/quote]
Funny thing about putting a significantly larger motor (150 vs. 50) on a 22 foot pontoon where most specs top out at 115 WITH larger diameter logs. That's the law of diminishing returns. Sure you've got triple the horsepower the boat was designed for - which will get you better performance. However, there's several factors weighing (bad pun) against you when you go this route, and the reason why you're sitting low in the water:
(Obviously not YOUR issue since someone else did this without putting a lot of thought into it up front..)
1. The additional weight of the engine. It takes extra horsepower to make up for this alone. Generally speaking that 150 is going to weigh in about an extra 223 lbs. versus a 50.
2. Fuel consumption goes up dramatically. While this isn't THAT big of an issue for most of us - unless you travel long distances like I do. However an under powered boat also eats fuel since the engine has to work that much harder to compensate. There is a sweet spot where horsepower and fuel consumption meet. The engineers that design boats work hard to figure out exactly what that is. 90% of the time the horsepower that comes with your boat is specified for a reason: it's the best overall choice, and yes, a compromise.
3. Added drag. The extra weight of that bigger engine is going to submerge the rear of the logs deeper in the water. Once under way if ANY portion of your logs is submerged below the radius you have lost efficiency due to increased drag - and there goes an enormous portion of your horsepower advantage. The only way to compensate is going to larger diameter logs or adding a third larger diameter middle log. Carrying a huge cooler of beer in the front is also a great solution.

4. Added fuel capacity. You're going to need to carry a lot more fuel to cover the same distance that you would have with that 50 hp engine, and at 6.3 lbs. per gallon it can be significant. The boat that I built - I didn't change the horsepower - but went from 19 gallons to 41, that's an extra 140 lbs.
If I had your boat I would strongly consider adding a third, much larger diameter, full length log. Sell the one currently have for $500.00. Great Lakes Skipper is good place to start looking, and their prices on logs are negotiable. For about $1.5K you can make a serious improvement, they're relatively EASY to install. Enjoy your boat this season and give it some thought for a winter modification.
...and just a heads up here: It's entirely possible you're exceeding the manufacturer's specified maximum horsepower for your boat. That info should be available on the data placard on your boat or from the manufacturer's literature. In the event of an accident insurance companies LOVE to find a way to deny a claim for a technical reason, and that could have serious consequences. If there's any doubt get a letter from the manufacturer specifically allowing your horsepower.
Anyway, enjoy the new boat and ignore the ignorant misogynist comments made by the bubbas. I'll bet they need a wheelbarrow to haul around their beer guts.