User blog comment:CutlerBeckett/Is Cotton alive?/@comment-86.87.12.146-20120829072521/@comment-1984959-20120829081505

An interesting idea, at least, given what was at the end of AWE("Some of the men don't feel entirely settled about leaving Captain Jack behind). However, because of certain key points, it seems unlikely. Certain key points being...
 * Bootstrap Bill Turner didn't want to mutiny against Jack Sparrow in Barbossa's first mutiny, but ended up staying with Barbossa for quite a while(long enough to fall under the Aztec curse) before ending up aboard the Flying Dutchman. The same can be said for Pintel, Ragetti, etc after Barbossa's mutiny in AWE.
 * This isn't the "in-universe" reason, but I'm sure some, if not many, fans wouldn't believe that. Myself being one of them(sorry).

On a brighter note, as I said above, it is an interesting possibility...but unlikely, particularly because of some fans. Just something to think about. ;)