In an ideal world, yes -- but the reason for picking 2.7.5 was that it's the standard install for Centos 7.
(One the reasons this has only just started looking like a possible move is that currently our install is oriented around 2.6!)
I've had a go installing 2.7.11[1] -- and interestingly PEX itself works fine; pexifies itself and that can pexify our apps. So we have a build route albeit not ideal. CTO isn't averse to the idea of deploying 2.7.11 (at least on the build machines) but we'd all have more faith in things if we knew why empty PYCs were being generated..
Pants, however, still builds a binary missing the PYC files. I'll be honest -- that might just be it picking up the wrong Python version which is where I can pick this up on Monday -- or even picking up the wrong pex version. Does it use the system installed version or does it do the work itself?
It does feel like a pexy issue -- I could fathom it not including the compiled files or including bad versioned ones, but to end up with empty ones feels like something's really not right and something it should complain about.
[1] Which was a little sunny adventure all on its own requiring both the MySQL and SQLite dev kits for various reasons.