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    Real Strategy Requires Cunning

Xetfield

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It seems very strange for me that the only thing I can demand from other nation without war is territory. Maybe we should have other opportunities like demanding money, trade power, giving up claims etc.?

Of course, every demand need to be seen differently from the points of both aggressive expansion and AI willingness to fulfill demands. Ok, it might be too hard to program AI's willingness to fulfill the demands depending on the size of the contribution, but religion changing definitely should cost way more than bullying for some money.

These peace terms, however, mustn't be achieved by threat: full annexation, cancel subject, concede colonial region, form personal union, became vassal (just because there's no sense to threat it when it's possible peacefully), humiliate (doesn't fit into rival mechanic), show strength.
 

Vatonage

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My immediate question would be how exactly you would handle a refusal in the case of, say, demanding money. Would you launch a war for reparations or a direct sum of ducats?

Generally, though, this could be something that is a little bit gamey. It opens the opportunity for a very powerful player to seize lands from numerous smaller powers without much effort. The AE penalty for this must be higher than normal annexations to compensate, since you could also potentially pause, demand from multiple minors at once (before the AE kicks in and forms a coalition), then unpause and get two or three provinces.