I see only one problem with this- Nazi Germany holds all the cards. Vichy really has no leverage from which to argue for a deal. Nazis will probably just occupy it later from Vichy anyway, for the previously stated reason.
at one point Japan feared Nazi regime would assert claim over Dutch East Indies, and that all European powers, while at war at that moment, would join against them (Japan.)
my speculation is that to gain control (or hell just reach) Dutch colonies they might strike generous deal with Vichy regime, since they would need their collaboration.
not sure about division of Belgium? whether Vichy France would agree to annex Wallonia or administer it? there was at least discussion of swap of Alsace and Wallonia. another possible division of Belgium is metropolitan Belgium remains occupied by Germany and Belgian Congo goes to France.
all the above assume an accelerated transfer of Belgian gold reserves to Germany.