rideswithchrist, I did come across this website with data on a 2008 model which is only 1 year off from yours. I hope it is similar enough to yours. Data on the 2007 model was not available. It's a comparing-trailers page but the same model is on both sides.
http://www.powersportsnetwork.com/e...04&year1=2008&mfg1=3554&vehicle1=82304&go2=Go
View attachment 163200
So it looks like the Unloaded Vehicle Weight (UVW) is 1,985# and the Cargo Carrying Capacity is 1,015# which is the math for a Gross Vehicle Weight Rating (GVRW) of 3,000#. So yes, a full water tank and empty propane tanks could cause the bounce and sway (your trailer is trying to lean BACKWARDS as it rolls down the road) or it is very close to balanced evenly that the slightest bump could induce sway.
I had a similar issue taking my 3 bikes on the back of the Aliner to the Fort last month and back. We had a bike frame on the BACK of the popup. I tried to compensate with lots of weight inside the trailer as far forward as possible. There were a couple times I got into a sway situation which can be handled by engaging the brake controller manually and moderating speed.
So your popup should definitely be hard to lift off the front wheel before you hook it up to the hitch. Note above how the hitch/tongue weight of 188# is about 10% of the UVW. That is the ratio you need to stay close to. You CAN carry water in the H20 tank but you have to compensate with weight up front of the axle to keep a little downward force (about 10% of the towed weight) on the hitch. It's a Moment Arm Equation (forgive me, I'm a Professional Engineer) and 100# 6 feet out from the axle is twice as nice as 100# that is 3 feet from the axle. But you need enough downward force on the hitch to keep it always "leaning forward" or down, so to speak. That's why knowing your tow weight and checking the force/weight under the front wheel/hitch is critical.
Hope this makes sense.
Bama Ed