It should also be noted that there was a whole bunch going on in the other Spanish colonies (except Peru and possibly Uruguay which I believe were entirely loyal) at the time.
Argentina, for instance, was technically in revolution, though I think at this point in time the "revolutionary" side still claimed to be fighting for control in the name of Ferdinand VII against the officials appointed by the Spanish regency. I believe Chile and Columbia were in revolt as well, while the Venezuelan revolt had been crushed.
The whole thing was a mess due to everyone claiming right to rule for Ferdinand while he was imprisoned and it being difficult to tell who was really loyal to the crown and who was just using Ferdinand as an excuse for independence from the mainland. I'd recommend looking into the ideas of
Retroversion of Sovereignty and of the
junta systems which were very important to the period. It really is an interesting time for the game's purpose for the game as it seems like almost any result could be possible in the Americas.