Little Willy (the son, Wilhelm III.) would perhaps be willing to go to war in 1905 or 1911, making use of the good opportunities, however, he would keep Bülow as chancellor. And Bülow was not disposed for war, so most probably he would talk Little Willy out of it. Little Willy was a very cautious man who would listen to his advisors and prepare decisions carfully.
But he was not afraid of war, like Big Willy (Wilhem II.) was, who even in 1914 tried to stop its outbrake at the last minute, only that chancellor Bethmann didn't follow his orders.