PNoy's loyalty is with Mar Roxas, and no way in hell Roxas picks Chiz to be his VP. The LP may field a Roxas-Pangilinan ticket in 2016. In other words, there simply is no room for Escudero and his gigantic ego and presidential ambitions with the Liberal Party.
IF it's true that Senator Escudero is romancing Kris Aquino for political reasons, it will not work. She will prove to be a liability. Her penchant for extravagant material things will remind people of Imelda. We can make the argument however that we have a young electorate in 2016 and that they were either too young or weren't born yet during the Marcos years, but that doesn't change the fact that Kris is a polarizing figure.
Escudero's best chance is to either run as Binay's VP or convince Binay to step aside and support his (Chiz's) candidacy for president instead and best be remembered as an elder statesman and/or a kingmaker since Binay will be 74 years old in 2016, which means if elected president, Binay will be 80 at the end of his term. That may turn off a young electorate since I can guarantee you his opponents will make age and health an issue if Binay runs.