Short answers, pulled from the story.
Mark Antony staged a festival imitating a Roman triumph to mask his defeat by Parthia. He held a public banquet where he dressed as Dionysus and Cleopatra appeared as Isis-Aphrodite before the city of Alexandria.
Antony confirmed Cleopatra as queen of Egypt, Cyprus, Libya and central Syria while Alexander Helios received Armenia, Media and Parthia. His twin Cleopatra Selene II was awarded Cyrenaica and Ptolemy Philadelphus received Syria, Phoenicia and Cilicia.
The Senate refused to ratify the distribution of lands and titles sent from Alexandria. This rejection signaled a complete breakdown in relations between Antony and the Roman government.
Octavian's political position was threatened by the recognition of Caesarion as the legitimate heir to Julius Caesar. The claim undermined Octavian's status as Caesar's chosen successor since Caesar had adopted him in his will.
The Second Triumvirate expired on the last day of 33 BC without renewal. This expiration marked the beginning of the last war of the Roman Republic which led to the Imperial era.