I doubt very much if he did grow a pair, (in your words and appropriate), and he granted them asylum, that there would have been a restoration of the Romanov's in Russia. Things were very much out of hand in Russia, the only ones seemingly organized were the Bolsheviks, and even if there as to be a restoration, I don't see any provisional Russian government inviting back Nicholas II. Perhaps his brother, Michael, had he not been killed, or an adult Alexis, of course Nicholas did abdicate for him as well.
When you say "Alexis", you're talking about Alexei Nikolaevich, right? Just want to make sure.