The Magpies have been given league approval for Pendlebury to wear the one-off design for his milestone 433rd game, which is set to land this month.
Former Collingwood captain Tony Shaw isn't a fan of the planned tribute, saying he would feel "uncomfortable" wearing a different coloured number to the rest of his team.
But Lipinksi, who has played alongside Magpies legend Pendlebury for five seasons, is on board.
"I like it," Lipinski told reporters on Monday.
"I've seen a few people giving it a bit of hate, but I think Pendles can do whatever he wants and he's earnt the right to be celebrated.
"I think we should just all be getting around that because it's going to be amazing when he breaks the record."
Pendlebury, who was rested against Hawthorn last week, is set to equal retired North Melbourne champion Brent Harvey's record of 432 games when he returns against Geelong on Saturday night.
The 38-year-old could be rested again when Collingwood travel to take on Sydney, before breaking the record against West Coast at the MCG in round 11.
A crowd in excess of 90,000 could be on hand, as was the case for Richmond legend Dustin Martin's 300th AFL game in 2024.
Lipinksi dismissed suggestions Collingwood's management of Pendlebury and the milestone had caused frustration in the playing group.
"The club planned for some of the more experienced players and their schedule throughout the whole season back in January-February," Lipinksi said.
"So whatever the plan is, I'm sure it's going to be fine. We've got such a deep list and I still think we played really well without Pendles (against Hawthorn).
"Obviously he's a huge addition to our team, but I think we've all just got to be prepared for whatever the plan is. If he's playing, it's obviously a super bonus, but we'll see."
Lipinksi has been buoyed by eighth-placed Collingwood's improved form in recent weeks, with wins over Carlton and Essendon followed by a draw against high-flying Hawthorn.
"We're starting to really move in the right direction," Lipinksi said.
"Early in the year we had some troubles with scoring but it seems like we're starting to play better on offence and score well.
"Our defence is always amazing, so we know that's a staple for us, but I think we've seen some great improvement."
Lipinksi was speaking at the launch of FightMND's Big Freeze 12 launch on Monday, with the annual fundraising feature to take place when Collingwood play Melbourne in their King's Birthday clash.
10°C