I decided to attempt a 4 player game to test the new rules with me playing as all 4 players.
It seemed like attacking is a lot less rewarding because a defending player can allocate all their troop tokens against the player that attacked them. In a 4 player game, if two people fight, this means that the conflict will go on for several rounds before a clear winner emerges like in the test with two players. Even if a clear winner emerges, that player will be weak and vulnerable to attack from another player.
However, many games such as Diplomacy also have the issue where a 1 one 1 fight is not going to lead to a clear winner for at least a few rounds, which gives other players opportunities to intervene. Games like this encourage players to attack with an emphasis on making deals and alliances with other players. Something similar would work in Clash of Empires, but that means that the game would take significantly longer because of the negotiation that is going on.