Well, Ike clearly thought he had killed his father, so a faked death would have probably been tricky to pull off. If you are in control of all of the variables, then faking your own death seems doable to some degree. But, if you want it to look like someone else killed you... someone that doesn't know you are faking your death, well, that adds a whole new set of complications.
What I found funny was how Ike reacted to seeing his father again, though... The sigh he expressed makes me think he's in his head going, "Of course it's him." He doesn't seem as surprised as he should be. Yet, with all the craziness he has witnessed so far, maybe he's just learned to expect the unexpected. If not for the first three pages of the issue, the last three pages would have made me think that Ike was helping his father to fake his death.
It's amazing that after 11 issues, we still don't know much at all. With LOST, we may have had a ton of questions, but they doled out a lot of answers along the way too (It was just that every answer posed more questions). Here, I feel like it's just question after question with no answers. I guess I am a glutton for punishment, though, because I am still enjoying it (at least for now)