They do appear to be wearing parachutes, though they don't appear to have leg straps - could make it very uncomfortable in the unlikely event they have to be used. (They'd be left hanging from the shoulder straps.) Maybe part of the system is not visible in the footage. 

Branson himself described undergoing 5 days of training before his flight. More than enough time to learn how to deploy a parachute. At my airfield, taking members of the public up, that part of the pre-flight briefing takes no more than a couple of minutes.