This is a question of social responsibility. The fact that someone lost his memory 
shouldn't mean that he is innocent. Tell it to the victims of the Revan's scourge. 
I think that they wouldn't understand celebrations that Jedi Council prepared for Revan. 
  
And even if Revan himself forgot everything there are witnesses, holonet news from the frontlines and galaxy in general remembers that war. So in time he would learn about his past much more. 
 
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Yeah, but fact is, you can't hold Revan responsibel for his actions in the past: The Jedi created a comlpete new personality, The body is all that remains of Revan. So the Jedi order praises the new personality for his actions, not Revan.