More Evidence: Nerissa... (Spoilers)
Nerissa IS Faith, at least in Episode 1.
(First off, I'm sure this has been brought up, but since it isn't amongst the voice clips Bigby recalls at the very end (and since I'm not sure if you need to hear this to progress through it's respective episode) I don't know if it's too well known).
Recall when you speak to the Magic Mirror for the second time in Episode 1. After Bufkin recalls the story of Faith. You know, you have the option of asking him about Fath's dad, Lawrence or Faith.
If you ask him about Faith, it will say:
Mirror: "Through powerful magic her whereabouts are sealed. Unfortunately for you, these lips are sealed".
Bigby: What?
Mirror: "These Lips are sealed". It's not my choice of phrasing; it's simply the way this has to be.
So yeah, Faith (after you found "her" severed head) was still alive; the ribbon prevents it's host from speaking of how they're a stripper/prostitue at the Pudding N Pie, and Faith was at the Pudding N Pie (or at work-related business at the time); that's why the Mirror's vision was impeded.
Now, we can exclude Lily from being involved in this glamour-conspiracy since her head did turn into a troll when the glamour wore off.
Maybe the Faith you encounter at Toad's place is the real Faith, and that switch-in was sometime in-between when you meet with Faith and find her severed head. After all, its a gap of a few hours inbetween (since Bigby, for an ambiguous time period, took a sleep).
So in the end, it can't be that Nerissa was really Nerissa all the time and Faith was Faith all the time -- unless the ribbon's powers continue post-mortem and will hide her identity even when her head is severed, which I don't find too be too likely.
Comments
No, the mirror can't show Faith because of the ribbon, no matter if she's dead or alive. Same thing happens with Lily in Episode 2, where the Mirror can't show her even after she died.
Really? The mirror, even though she was near-undisputably dead, couldn't show Lily's location?
(Embarassed look)
...Point rescinded.