Cathay's already announced they're joining, and as soon as they stabilize their new regions they'll be marching north in force to help out.
Aenilia hasn't lost any regions, per se, but Ornaz is effectively a net drain on their resources right now, and Erahol has been pretty badly hit. Arcachon started this war with Unotosa and Tuhpos, and while Arcaea's lost Hupar it was always the most troublesome region. Isular's been Cathayan for years now.
I'd still agree that Arcaea/OW are steadily losing, mind, save for the fact that they just need to hold on until Cathay marches at which point the fairly carefully balanced sides become upset in their favour.