Would this Philippines be interested in "spreading anti-colonial ideals" to its neighbours in Asia? Or would it be partaking on colonial expeditions on its own in Indochina and further north?
Of course, being in possibly the most strategically advantageous point imaginable in East Asia with everything so close, if they were to pursue the latter one only needs to imagine how fare they can go...
If I were to pattern Philippines like Latin American country behavior, my take is this ATL Philippines would want to retain status quo within the immediate area:
Formosa, Sabah, North Kalimantan, Sulawesi or at least Sangihe Islands, Taluad Islands.
Based on the status quo retention in OTL South America like the War of Confederation.
Just like in Latin America, Philippines would be under British influence.
The more industrialize the Philippines the more resource starve it becomes, the more expansionist it becomes. The less industrialize Philippines is, the more isolationist it becomes.
Of course, Philippines is less resource starve than Japan. So, you got less reasons to conquer based on resources.
It depends on how the Philippines develops as a nation in those crucial first years.
Even if the Philippines end up with the same size economy in 1900 would have enough money to buy a modern navy.
As an OTL comparison, OTL Philippine economy in 1900 is roughly the same as OTL Chile. This is the same Chile who bought torpedo boats, ironclads, protected cruisers, armoured cruisers and pre dreads.