Germany would agitate but probably not get involved until/unless France or Russia were seriously damaged.2 points about German position:
1.Here some assumes that Germany would join Britain in fighting Russia and France. Are you out of your mind? Thats a ground war against two neighbouring powers allied with only Brittain and A-H and other german allies not obliged to join because Germans jumped in. Also what would be the reason for Germany to join? Any casus belli?
That plan was utter nonsense. The Treaty of Björkö was renounced by Nicholas II soon after.2. If you have read a bit of German diplomacy of the time you should be aware that Germany was working during the Russo-Japanese war to create a continental bloc against Brittan: see Björkö treaty with Russia. The plan was that France would be forced to join a Russo-German alliance as it simply couldn't afford to stay out.
War scares were common in the period, just look at the Invasion Fiction.An alliance like that would be necessarily aimed at London. And beside that there was a warscare in Germany in the winter of 1904-05 - they were fearing a British attack on them.
No, Germany would act in it's best interests. Eliminating the threat of encirclement by breaking the Franco-Russian alliance would be very much in favour there.So if Germany would do anything beside the aforementioned popcorn eating it would be joining France and Russia - not the other way around.