Speaking individually and not for the entire mod team of /r/knifeclub, this is definitely something that I've got an eye on, being both a moderator there and a poster here. Our community (/r/knifeclub) was founded as a response to serious and capricious overmoderation in reddit's other knife community. People were banned by a single moderator in /r/knives with no reason and no appeal, and from the refugees, /r/knifeclub was born. So, I think there's a fair amount of reluctance to ban somebody, even trolls and bad actors, when there's not a clear reason to do so.
For all of his history, aside from a personal attack which was in violation of a lesser-known Reddit rule, for which he was warned, he's yet to reach that threshold during his time on knifeclub. But I'd like to just highlight that we're aware, we're not "eating it up", we're we're keeping an eye on him, and if he steps at all out of line, or returns to old habits, he's gone.
Put differently, although I hope he'll be a productive member of the community, and that his song-and-dance routine represents genuine personal change and growth, we've given him more than enough rope now, we'll see what he chooses to do with it.