You can get both to work by terminating and reinitializing both pigpio and the ledstrip library, something like this;
The gpio init is the bottleneck here, which takes ...
pigpio always uses either the Pi's hardware PWM or hardware PCM peripherals to perform GPIO sampling and to generate PWM pulses.
If you use waves or hardware PWM then both peripherals will be used by pigpio.
There is no workaround.