Hmm--with that, it seems like it would be much better to put Edward on the throne in the game, because the world background info includes the Entente Cordiale as being in place (I'm guessing that there are things that the writers, which are only three individuals and not a big company, didn't fully think through with their tinkering in the timeline). There's still the Three Emperors League (Russia, Germany, Austria-Hungary) in the game, and of course the addition of magic and so forth, so who knows how things might turn out as to whether there's the assassination, some other trigger, or whether the world somehow manages to avoid the world war altogether.
Of course, for the characters, it doesn't seem that it would be much difference between saying "for king and country" vs "for queen and country", so all in all it sounds like it would make a whole lot more sense to make the minor change to let Edward reign (and maybe the magic and such would even let him live a little longer, though I'm not sure what the further ramifications of that would be, but in this game world, German doctors came up with a cure for hemophilia, which strengthened their ties with Russia (and perhaps would have had an impact on how that history plays out), if the game should go on as long as that.