[1] http://www.oxforddictionaries.com/us/definition/american_eng...
[1] http://www.oxforddictionaries.com/us/definition/american_eng...
[0] which provides, as the definition for the non-literal use: "(informal) Used for emphasis or to express strong feeling while not being literally true" and, says of that use in the usage note: "In recent years, an extended use of literally (and also literal) has become very common, where literally (or literal) is used deliberately in nonliteral contexts, for added effect: ‘they bought the car and literally ran it into the ground’."
No, its used as an intensifier when the fact that the usage is figurative is implicit, it is not used in a manner semantically identical to figuratively. (When used in this way it is used figuratively -- to mean "almost as if literally" -- but it is not used to mean "figuratively". That is, without "literally" in the same context, the phrase would already be understood to be figurative, the word "literally" is not communicating the meaning "figuratively", it is communicating something about the already-figurative use of the word modified.)