Growling

The growling is another behaviorial attribute usually associated with dominance. He's staking his territory. It happens. It can also happen when a dog is in pain, or not feeling well.
This is a hard answer because it's difficult to see exactly what is going on, but I can tell you that I would be trying to put a stop to it immediately. My answer is based on a behavioral problem. A physical problem that has Floyd in pain can't be ruled out either.

All of my male dogs at one time or the other tested me in pretty much the same manner, the difference is that they were all 12 months + older than Floyd. Every one of them was immediately flipped over onto their backs, and very quickly found the inside of their kennels. I wasn't cruel about it, but I wasn't nice either. I then let them out and held their food bowl in my hands. If they wanted to eat, they were going to do it on my terms. If they growled while eating, the s_ _t hit the fan again. When they were eating, I intentionally took the food bowl away, and gave it back repeatedly. If they growled, or snapped it was dealt with on the spot. I put my hand into the bowl while they were eating and took dog food away and added it. I gave them bones while holding onto one end and then taking it away and .giving it back.
I never permanently took the food away, or took it out of their sight. It was always there and they always got it in the end. They could see it, and smell it, but they weren't going to have it on their own terms.

My caution would be to make sure there is nothing physically wrong with Floyd first that is causing this. The times I have gotten after my dogs for something, only to later find that they were in physical discomfort, left me feeling like a real schmuck.

I have a 24 week old V. His name is Clyde and we have been struggling with this as well. He has gone so far as biting each of my kids (AGES 5,7 AND 10) It was never a "puppy bite" either. In each instance he had a toy or chew toy and he was protecting it. I was actually about to bring him back to the breeder. Then I talked to several people and I learned about pack behaviors. Clyde is getting better now but I had to change. I now treat him the way his mother would if she were unhappy with him. If he misbehaves I will grab the scruff of his neck or pinch his ear and I mean hard.. I hurt him. I have to put my kids first and that means HE WILL NOT BITE OR GROWL!!!! It helps having kids because I automatically go into protection mode. He needs to know that I am in charge and that the kids are mine and he cannot mess with anything that is mine.
We have also adopted the philosophy that he gets NOTHING for free. He has to earn EVERYTHING. Going outside, eating, getting pet, having water. WE do this by making him follow a command something as simple as "sit" but he has to do what I say to earn whatever it is he wants. Also, keep him out of your bed. A great book that was suggested to me was "How to be the leader of the pack and have your dog love you for it" by Patricia McConnell. Good luck, hope it was helpful.

Clyde's mom

my dog duke would only growl at our daughter when he was napping and she wanted to be near him.Now hear is the picture ...dog on couch ..on other side of the room sleeping resting or just being by himself he would become aggitated at her when she would get too close or get in his face. I simply told her to stay away and go pet the other dog.He got over it they it was when he was new in the house at three months old and this went on until he was about seven to eight months.Now he lets her do whatever if he wants to be left alone he just gets up and moves.witch happens quite often.I have never had to put my dog into subision They just seemed to know who is boss.I have to get there little butts from time to time.Honestly hough these are two of the most loveable and respectfull dogs That just love there dad.I do for them and they seem to get that ,and give me enough trust to trust them.Just be the boss alpha boss.never let your guard down set your own bounderies ,whatever they are and you can have the best friend you always wanted

FWIW, I recently posted some advice on a similar issue on another thread, based on some research/reading I had done on how to manage resource guarding aggression (what you are describing). It seems many professional trainers are moving away from dominance-based corrections or any kind of "punishment" (including scolding) and toward other techniques to modify undesirable behavior. In the case of resource-guarding aggression, the "other techniques" are called "counter-conditioning" (in a nutshell, getting the dog to associate being approached while eating (etc.) with something positive) and "desensitization" (in a nutshell, gradually getting the dog less uncomfortable with your approaching when he has a coveted object or is in a coveted location).

Below is link to the other thread where I posted my erudite (lol) advice. I also referenced a book about the subject that sounds like a good one to me (I have no personal or fiduciary relationship to the author or publisher, but I like her other training resources).

http://www.vizslaforums.com/index.php/topic,426.0.html