So I could see the US (After Wallace is no longer President) or heck even Fascist Italy use these folks to incite an Anti-Communist rebellion and quite possibly a civil war in Korea.
It's possible, but that would require additional factors. First, Stalin must be dead for something to happens. ITTL he's just the kind of madman who don't care about the price of his objective. Then all the anti-communists heads or at least most of them must have survived the inevitable purges the communists would launch in Korea. Then, you have to make their programme not to anti-communist: it's obivious that a dirty poor paesant will always choose land expropriation from landowner to himself, and Asia was full of poor farmers.
USA, and especially CIA post-Wallace would likely waltz in supporting every anti-communist and right-wing group in communist countries, probably with little regard toward their true objective (freedom-fighter or common gangsters).
Italy would like try to join, but we must remember: Italy is too far away. Mussolini could try to play the neutral party, too foreign to have personal interests in those regions. He only need level-headed diplomats. I remember something like this OTL, when Florence's mayor, Giorgio La Pira, brokened a bilateral deal between USA and Vietnam for a peace accord in '65. The viets didn't want to bee seen as the losing faction, but the the hawks at the Pentagon leaked the deal to the newspaper, who promptly published articles saying that North Vietnam was ready to surrender, thus sinking the deal for good. Then US of America had to swallow a way worse treaty later and they totally deserved it.
Well, the name will probably work for Benny even if it imply something of defensive, maybe the general military cooperation plan of the big european three (UK, France and Italy) in case the URSS invade one alliance (or the neutral) and the other two will be obbliged to intervene in her defense; probably something of unofficial like Israel nuclear weapon possession (official deny of their existence but everybody know that they exist)
Well, obviously it's a defensive pact. Being much wiser ITTL, Mussolini know that tackling the soviets it's a suicide. Also, it would probably not only have a military aspect, but economic and political. Likely, without espionage integration for obvious difference between countries. Still, the base idea would be to create a ground as hostile as possible to soviet penetration, both with military preparation and with fight against traditional communist footholds. A rapid economical development in both winning and loosing countries would deprive the commies with lots of potential recruits desperate to survive (that's a traditional pool for every revolutionary entity).
I remember that in OTL, Germany was starving, while Italy's industries were dry of coal. A plan was forwarded to exchange italian food production with german coal to restart both countries' economies. The Allied (I think the french were the most vocals, but I'm not sure) torpedoed the proposal. ITTL, somebody (like, Churchill) has to put in front every european nation the fact: collaborate or die by soviets hands. This could make the recalcitrants to swallow the bitter pill.