Pip watches quietly to see how the others will react to Giggles's proposition, but does not put away his rapier. His judgement on this individual was settled long before they met face to face. Giving murderers a second chance was a luxury that had never been available to him. Besides, a lifetime of zealotry is not reversed in a day, they should end her now while it would be easy.
Still, as a relative newcomer, Pip does not act on his feelings. This is not his decision to make.