I had similar experience when Bear and I first went to puppy class. He knew all of the commands that they were already teaching and was used as an example by the instructor several times. Eventually the instructor would give us things to work on while the rest of the class was working on other things.
I also agree that you should get him tired out before you go to your class, it will help take the hyper puppy edge off. He will calm down in time. It took about 3 classes before Bear wasn't all revved up and was better about being around all the different puppies. Good luck with your training!
Bear GSD 10/16/11
Elsa GSD 12/23/03 - 11/10/11