By the looks of it (per se), certainly it doesn´t have much to do with the cheating thing.
It´s a young, happy hand. Certainly it´s not a literal way, so most of the young is happy. And so are their hands. I think it refers to the way of the young with buying ideas and going for it. Whereas, an older person would stop to think, sometimes would think "what is in it for me?" or have misgivings about what others are up to when they reach them for help, etc.
A giving hand - someone that collaborates, that gives other a hand (que ajuda os outros/alguém/que dá uma ajudinha.)
Of course, I choose the translation road. But it could also be in sarcastic way, or someone digging a subject and then going into some less innocent one. Going from innofensive conversation to the exploiting of gossip, who knows!