Is it a sign of engine problems if your oil level reads way high when cold. Then after starting bike and warming up it reads normal? What could cause this?

 

Does the bike have an oil cooler mounted to the front down tubes? Or maybe oil filter mounted above the oil tank?

The other way is normal: Low when shut down and normal after warmed-up.

 

Yes to both questions oil cooler and filter mounted in front

 

I'd guess you're fine. Your oil tank is under the transmission, so it would make sense that oil from the cooler may be settling there when the bike isn't running. Check the oil level when warmed up and ride on. I would.

If there is a better way to plumb the cooler in and avoid this, I'm sure one of our members more experienced than I will suggest it pretty quickly.