Ok, let me analyse the continents now:
Countries, border countries, routes, distance from pinkies.
Catholics - 7, 4, 6, adjacent
Emirates - 8, 5, 5, adjacent to both
Orthodox - 6, 4, 9, adjacent to both
Barbarians - 7, 3, 6, 2
Mogul - 7, 3, 4, 1
Hmmm, Its much better I think. Much more balanced
I think the Orthodox are very difficult, even to a no men land. Its not easy to hold when you can be attacked from 9 locations. One less border, maybe? Maybe removing border between Holy Empire and Bulgaria? Not necessary, however.
At the other hand, Mogul is easier to hold. Here I think we should do something. We could think about a new country, maybe, or maybe some new borders? Khan - Chernigov?
About the legend, its still not clear if a player holding a continent and both pinkies will receive 3 (continent) + 2 (Papal) + 2 (Holy) + 4 (both), or if this last bonus doesnt exist. In my opinion, it should exist, but not 4, I would suggest a 2. So, 6 total armies for holding both, it would increase attacks to the pinkies from other players, when someone try to hold both.