OK well I'll try and put together an argument for not folding pf just to play devils advocate.

1) We're 5 handed so UTG is actually MP
2) He squeezes 11% of the time. That's a lot. I'm not sure exactly how that stat is derived but I know that AQo is ahead of a range comprised of the top 11% of hands. Polarise that range and we're probably ahead even more.
3) The UTG/MP opener is loose. Lots of the other regs I play with are nittish. To get your squeeze % up as high as 11% means that when you get a chance to squeeze a loose guy you have to take it a lot.
4) We have position on the squeezer
5) The UTG/MP opener will most likely fold when he sees a 3bet and cold-call in front of him because decent players cold calling 3bets looks pretty strong.
6) The other player in the pot is a fish.