Yes, it will allow open carrying.
Do however bear in mind that the federal gun free school zones act prevents you from carrying within 1,000 feet of a school without a license to carry in the state you are carrying in. The only real exception is on private property. Also, you won't be able to carry in a car.
The solutions you have available are to switch your residence to Michigan and register one or more handguns. Each registered handgun, by Michigan law, is "licensed" to carry, according to the wording of the law. This covers only legal OC in a defined set of circumstances. However, the "licence" never expires. This "license" requirement of registration is the same thing you'd be satisfying with your florida permit, the difference is that the Michigan registration satisfies the GFSZA's 1000 foot rule.
Alternatively, you could get an ohio CCW type license, and assuming you keep it lawfully concealed according to state law, you aren't likely to have a problem with the GFSZA. Essentially, the cops here are often us against them thugs, and any time they feel their masculinity is threatened, they'll get nasty. So any time you want to OC, make good and sure all your bases are covered.
Cruise around the Michigan forum to find out more.