Woo maybe. Or reading your body language. Probably the latter IMHO. I am told that people learn to do that in prison as a way of identifying, when they are out again, who is a safe victim and who should be bypassed. No real reason to think sasquatches would not learn to do the same with people, I think they spend a lot more time watching us than we do watching them.
Whether the presence of the gun is an issue for them depends on the person and I think they can read that, too, in the level of concern, level of bluster we show. It is one thing to say "I am not afraid" as a form of whistling past the graveyard, it is another to actually not be afraid. Guns are not dangerous. Scared humans with guns are dangerous. I believe they may be more cautious in their approach, but so long as a person is not panicky, not freaking out, they will approach tentatively, gun or not. It is the only explanation I can come up with for several approaches I've had while I was hunting with a shiny stainless steel rifle in my hand.
I pack a gun in the woods .. always. It's a matter of .. something approaching religion.
MIB