It's pretty typical of an "adult trike". Listed weight on one website is 77 pounds. That's a lot to push uphill so if you don't live in the flatlands you might opt for one that has 3 speeds instead of one. It has high seating for easy in and out access so yes it will be easier to tip than one with a lower center of gravity. That's simple physics. With only one speed you are unlikely to get the trike going so fast it will become unstable. Maybe GrandaddyBiker was able to get his going a lot faster than you do. Given the right conditions any trike can be tipped, even one with the seat 6" off the ground. I know from firsthand experience!

Many riders on this site will warn you that buying a bike assembled by a mass merchandiser like WalMart is a crap shoot. The guys who assemble them may have zero mechanical experience regarding bike assembly so sometimes pieces are missing and they are not assembled correctly. Good for you getting one that seems to be OK though the wheel should not have failed the way it did.