The answer to this will vary year to year, you can see that Wikipedia and the official Philippines tourism site climate page both state that rainy season is May to October. Although you can also see on the Wikipedia page that a fair amount of rain does fall in November and December (depending where you are).
Further you can see on the Weatherbase page for Puerto Princessa that rain drops off in Nov, but not by that much really:
> Average Number of Days With Precipitation (Years on Record: 15)
> JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
> 4 3 3 4 8 13 15 15 14 15 12 8
So while November might be technically out of the rainy season, it's nowhere near dry. But that should really be a problem, rain tends to be fairly fleeting. There may be thunderstorms with heavy rain but they tend to move fairly quickly, the climate is warm enough the even a steady drizzle is not that annoying. Chances are you'll get some good sunshine some of the time and some impressive thunderstorms. You can also generally see (and for a really good storm, feel) the weather changing, so plenty of time to get indoors.
As for typhoons, there was a major one at the start of November last year (Haiyan/Yolanda) and you can see from this Wikipedia page that major typhoons have been hitting as late as December in recent years. However, since typhoons travel in from the sea in a generally westward direction you will get plenty of warning before anything hits Palawan.
All in all I wouldn't worry about it too much, it depends what you're planning on doing. Normal rainfall isn't going to disrupt that much of anything (people are used to it). Although I would probably try and avoid being in a boat if there's an approaching thunderstorm. You'll have enough time to react to any incoming typhoons. It's maybe not the best time to visit if you're dead-set on baking on a beach all day, but there's plenty of stuff to do there that isn't tied to it being good weather.
Full disclosure: I've never been to Palawan, this is based on my experience elsewhere in the Philippines and information from the internet.