Lets say that happens: do you see Charles VI of France willing to send military expeditions to Wales and the Percys, to prop up their rule in order to keep England divided? OTL he was in 1405 when he aided his new ally Owain Glyndwr, but I wonder if this will still be a possibility if the Armagnac-Burgundy civil war starts up as it did in 1407. What concessions is he likely to demand of Glyndwr and House Percy for this assistance?
I think he would withdraw support once the treaty is put into action as it is essentially mission accomplished, their great rival England has been ruined and attention would shift to internal French politics and centralisation. France already had the Auld alliance and now also would be an ally of Wales so it would be excessive to invest in the Percy domain as they would be overcommiting in the British Isles unless it is phase one of a French take over but that would be very unlikely and France could not support the force required to take England over. France would have ensured its security from its greatest threat and be better off with England now divided but I don't think they would need to invest in maintaining the division so long as they at least prop up Wales and Scotland then the job has been done, besides look at the alternative the third phase of the hundred years war has been effectively averted, there would be no Henry V, no Agincourt etc. Without the third phase of the hundred years war without the humbling they recieved from the English then expect to see the rot in the French military and aristocracy to continue.
With the two English realms the area of contention to me would be East Anglia as it was valuable for the medieval wool trade, without the region the north would be cut off from the wealth generated from exports of cloth to the continent and lose out on these continental trade links so expect to see the Percy's try to get it if possible.
I also wonder what would happen in Ireland, I assume the pale would be lost either becoming independent or being taken over by a local Irish lord, how would Ireland develop without the English, would the Scottish fill the role the English played or could the Irish possibly unify.