Board Thread:Speculation House/@comment-14138255-20160110165745/@comment-24994749-20160111205641

Velvet might be too innocent to think bad about someone who is participating in a tournament that's supposed to be all about the friendship between the kingdoms.

Or too shy to voice her suspicions based on such circumstantial evidence.

Or be too invested in her friendship with RWBY to insinuate something bad of a team Ruby has befriended.

There is also that, the only common person in both incidents is Mercury, and his aura was at zero when the thing with Yang happened. And Emerald was in the audience during the Yang incident so Velvet has no reason to suspect her.

Honestly, it's not like Ruby pieced it together either. She was more surprised than anything when she saw Emerald.