Yes but we are talking about a scenario where the ocuppation to Czechia has been reversed and the dismemberment of Romania (which is when these alliances effectively dead iOTL) didn't happen yet. Most importantly, France, who was the main sponsor of these alliances, is still in good shape. In OTL the Romanians were in a state of shock after the fall of France when the Soviet ultimatum came, and were unable to react effectively. In TTL, the international situation it much more favourable.In theory yes and if they keep together even in OTL thing will gone differently, but in reality after the invasion of Czech and the Russian ultimatum at Romania, well the attitude was everyone for itself, even if logic dictate that they must stay together.
I don't see why it wouldn't be an easier fight. Italy might be a great power but not in the same league as Germany or the SU. Remember, Greece was beating it in OTL. Besides, the main objective of Turkey and the other balkan countries woul not be to fight Italy directly but to take out it's smaller allies. Turkey might like to recover the Dodecanese but if it isn't possible, it can just focus on Bulgaria instead. And it's not like Italy can do much against Turkey either, it would just get it's own version of Gallipolli.Because it will not be an easier fight, the only thing that Turkey can do is try to attack the dodecanese, but their armed forces were in a state even worse of the italian in term of modern equipment. And Italy had demostrated that in a modern war courage only can't solve much, the Marina Militare can make piece of the Turkish navy and the troops must pass Greece to help Yugoslavia...and frankly it was very axis friendly
As for Turkey of Greece being "axis friendly" in OTL, this is irellevant as we are talking about a timeline where the axis is stillborn. The enemy is just Italy and some small countries allied to it.
At this point, I don't think a non-agression pact with a fascist dictator would be worth more than the paper it was written on. Besides, Greece had it's own terittorial ambitions in southern Albania.Greece can be probably buy out with a non aggression pact and with stopping to prop up albanian irredentism on the region (a secondary objective as the yugoslavia territory were more important). In OTL the Greece government had done anything to not provoke Italy (or other power) even closing her eyes and not protest when a 'unknow' submarine torpedoed a Greece Navy cruiser, so it reasonable predict that metaxas will try to stay out of this ufficialy and speed up the construction of the metaxas line.
And in OTL, the greeks tried to keep a low profile because Italy was allready officially allied to Germany and the Axis had taken out France. In this TL, the allies are preparing to sign a treaty with Germany and there is even the possibility that they will send help (after all, they were willing to help Finland).
Romania is still going to be surrounded when the war is over, and with less allies. They have a situation where all it's hostile neighbours are embroiled in wars of their own, so why not take advantage of it. Again, the main objective would be to take out Hungary and Bulgaria, and with the right strategy, it might be able to defeat them both. Italy can't really come to the aid of it's allies, while the Soviet union is busy in Finland and doing a job just as poor as in OTL.Romania is basically surrounded and can she divert more resource and troops with the big giant at her door? For the moment is occupied but soon will be again free so the romanian government must take in consideration this.
Hiding behind border fortifications wasn't really feasible for these countries for geographical reasons. And I have shown above tha arguments for sticking toghther, especially in a timeline where people asre much more inclined towards cooperation than in OTL.Or to be beaten and loose more territory. As said earlier here Italy can put all his force and resource in the fight, and even if not in league with France and Uk or Germany are a lot more than the entente. So it's more probably that the other nations will begin to rearm and speed up the construction of border fortifications but his not a given that they will go to the side of Yugoslavia (who it's even enough internally divided to be hampered in his war effort), even if it will be a logical but not easy choice