Here's a bit of a breakdown of things I noticed by going over some potential starting moves for each player:
Green: Cagliari is in a really weird spot. I would guess that this is the reason you merged Thyrrenian Sea, because that's it's most useful spot to go. Although, it's weird that two nations that look so far apart could bounce in the first spring. However, I really like the interplay Green has with blue in the early part of the game, and the variety of opportunities they have to cooperate or stab each other in the first year or two.
Blue: Looks like a pretty limited power, in that they will likely have to fight Green or die trying in almost every game. This power definitely seems limited by the historical nature of the variant.
Brown: Looks like a lot of opportunity to grow, but a pretty central and demanding position to play.
Yellow: Similar to brown.
Red: Starts out more distant from the other powers than it looks. While Green and Blue will likely be having some life/death fights in the first couple of years, this guy can kind of ignore people for a bit, and then start attacking having already expanded a bit. Giving red more early game interaction is another good reason to keep Thyrrenian Sea large.
White: Like Red, seems to have opportunities to expand with minimal interaction before coming in aggressively. This could be fixed by making Cre or Pad a starting SC for white, or by starting white in Brescia, so that he can interact a bit early.
General impression: I expect the game to start with Green and Blue fighting, and Brown and Yellow fighting, while White and Red grow and then start coming in bigger than the other powers. Of course, this is just an opinion, I don't know for sure.