Would that also result in Korea and Manchuria falling into Russian hands while the Philippines may end up becoming a German colony, should Spain hold it for a while until they sell it to the Germans?
Not necessarily. Spain may be less inclined to sell in this timeline, and, if anything is sold, it will be Micronesia rather than something as large, populous, and rich in resources as the Philippines. As far as Manchuria and Korea, the Russians will want to be careful not to push Washington more firmly into London's orbit.