Havin reviewed this most interesting TL, I have to make the following comments:
As it concerns international politics,
The ongoing reapprochement between Britain and neo-Junker Germany makes a lot of sense. Actually, this is Chamberlain's dream scenario made true. A strong right-wing Germany that is eager to be an anti-Bolshevik bulwark, yet has none of the unchecked Nazi brutality and untrustworthiness. As long as Germany respects Munich and leaves rump Czechia alone (making it a satellite by slow and quiet economic and political pressure and enticements is OK, invasion was definitely not), leaves Alsace-Lorraine alone, and makes overall sensible demands in Poland and elsewhere (the request of a 50% naval standard seems in tone with the ones Britain generally allowed other great powers), it is going to find a friend in London.
France shall be less enthusiastic, but shall tow the British line in the end. Renewal of guanrantees about Alsace-Lorraine would make the French more friendly.
As Germany stood in Nov. 1938, it had satisfied pretty much its standing irredentist grievances, as far as the non-Nazi nationalists stood, except for Poland. This was an issue most dearly felt among the elites and the populace at large as well, no way a strong nationalist Germany can let the 1919-21 border with Poland stand. On the other hand, their claims would only extend to get the 1807 border back, the 1914 one if they can pull it off at all, but no more. Differently from Hitler, they are nowhere interested in making Congress Poland a settlement colony, although they would love it if they can make it a satellite.
As far as Britain is concerned, and France shall reluctantly agree in the end, they have absolutely no interest in backing what they did regard as unreasonable Polish claims even in 1919-21, if Germany respects Munich and keeps its demands on Poland moderate (ie. Danzig, the Corridor and the Upper Silesia in a Munich II situation, Posen too if there is a limited German-Polish war). Therefore, if Germany pushes for a Munich II settlement, Britain shall back "sensible" German demands on Poland. If Poland backs down, that's the end of the matter. If Poland is stubborn, and refuses to back down, especially if Germany does something to cast Poland as the aggressor (e.g. Berlin stirs up an irredentist unprsing in Danzig, which Poland sends the army to suppress), the Western powers shall happily wash their hands of the bullheaded Poles, as long as Berlin keeps its claims moderate (i.e. nothing more than the 1914 border). In both cases, Poland shall keep a grudge for a while, but can be mollified (especially if it kept Posen) with promises of expansion in Ukraine when the great anti-Communist crusade starts.
As Italy is concerned, they are still a rather valuable ally for Germany, and Mussolini may be made a somewhat reliable one, as long as he may be given some territorial gains and a sphere of influence to play victorious imperial overlord. As 1939 Europe stands, pretty much the only place where ha can do so, without stepping on the toes of Britain, and screwing the new Anglo-German detente, is the Western Balkans. He had long-standing plans to carve up Yugoslavia, and incidentally this would make other allies of Germany (Hungary and Bulgaria) rather happy. So I would suggest that Germany *covertly* supports an Italo-Hungarian-Bulgar move on Yugoslavia. While Britain would care a lot if Musso did mess with Greece, they don't give a damn about shaky mega-Serbia and quite probably would prefer fascist Italy vents its expansionist urges on that than on thier colonies. France is going to reluctantly agree, although the Serbs were old clients, they are not surely ones they would go to war for, especially if they are in a detente with Germany.
I know that Yugoslavia is a nominal member of the anti-Comintern bloc, but they are dead weight and a member that carries a lot of bad blood with several others. Far better to sacrifice them at the first occasion.
Although fascist Italy had a lukewarm army, the Yugoslav one was even worse, the Croats and Slovenes are going to disert en masse, and Hungary and Bulgaria shall enthusiastically join. Final result, Italy grabs Dalmatia, makes Slovenia and Croatia independent vassals, Hungary nets Vojvodina, Bulgaria grabs Vardar Macedonia. In the ensuing confusion, Italy can likely annex Albania without too much fuss. Mussolini shall be satisfied and much more reliable for the anti-Communist block.
Although this is going to make Hungary somewhat satisfied, they still have a long-standing grievance about Transylvania with Romania, one that needs to be settled or shall be a festering wound, with a war waiting to happen. Germany needs to back a side. Since Hungary is likely going to be the most reliable ally, I would suggest that once tensions between Hungary and Romania heighten, Germany backs Hungary and with British and Italian support, enforces the equivalent of the Second Vienna Arbitrate, returning northern Transylvania to Hungary. Romania shall be unhappy, but it can be mollified with promises of getting Transinistria when the great anti-Communist crusade starts.
In both the Yugoslav and Romanian crises, Germany should feign lack of interest, playing the "hinest middleman", all the way remarking how the status quo was unjust and untenable, and yet another misshapen product of Versailles.
Apart from these moves, that are necessary to complete the anti-Versailles resettlement as far as germany and its allies are concerned, Germany ought to keep play smart and continue the charm offensive towards Britain and France are concerned. Drop any demands for old colonies, stick to the naval pact, offer economic cooperation and guarantees for the British empire and for the European settlement once Poland, Yugoslavia, and Romania are dealt with. Keeping reinforcing the anti-Communist Pact, try to woo Britain and France in it, poke the USSR with subtle provocations in Eastern Europe and in East Asia. Sooner or later, either paranoid Stalin or overconfident Japanse will lash out in a blatant pre-emptive attack, and heroic Germany shall be free to play the role of the defender of civilization from the Bolshevik-Asiatic hordes, with Britain, France, and America being at least friendly neutrals, at best allies.