Well, Pun-pun leans chaotic good, as LG paladins can pull off the trick just fine (and remain LG), and furthermore have a much better chance of getting it to work. On the other hand, CE characters can't even start it.
The alignment shift, and easier use of paladinness means that we'll see
n True Neutral Pun-Puns, n NG Pun-Puns, n NE Pun-Puns
0 LN Pun-Puns, 0 LE Pun-Puns, approx 3n LG pun-puns
n CG pun-puns, 2n CN Pun-Puns, and 2n CE pun-Puns
That's 3 evil, 5 good, 3 lawful, 5 chaotic.
So the net effect of Pun-Pun is neutral, leaning CGish. Which explains the weirdness of prices (RE: 10 foot poles)- pun-pun screws with people in mostly harmless ways.