Despite the protestations of Princess Elvira of Sachsen, the wife of Prince Albert, younger brother of the late Margrave of Meissen, the new Margrave is indeed HRH Prince Alexander of Sachsen-Gessaphe.
Elvira and her husband signed the official and notarized document that named Alexander as the Margrave of Meissen's successor.
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This document is certainly valid in light of the law of Federal Republic of Germany. It certainly also amounts to the demorganatization of the Saxe-Gessaphe line, thus making them eligible to succeed. So, Alexander is the heir of Maria Emanuel according to present German law and in line according to the laws of the Kingdom of Saxony, but is he really the rightful heir to the Saxon throne? Hardly.
The 1831 constitution of Saxony clearly states, among other things: "Die Krone ist erblich in dem Mannsstamme des Sächsischen Fürstenhauses nach dem Rechte der Erstgeburt und der agnatischen Linealfolge, vermöge Abstammung aus ebenbürtiger Ehe." Or in English: "The throne is hereditary in the male line of the Saxon Princely house according to the right of the first born and agnatic primogeniture, requiring birth to a dynastic marriage."
There is no clause in the constitution that makes it possible for the agnates of the house to amend it, even unanimously. After all, we are dealing with the constitution of a constitutional (albeit defunct) monarchy, not with a family pact here.
So, in my opinion, it would be ridiculous to claim that a family agreement could override the last valid monarchist constitution in determining the rightful heir, and displacing the son of a former head of the house in favour of a female line grandson. Especially, as a) the agreement of 1997 doesn't state it intends to override the former constitution, b) as none of the princes in the family renounced their own eventual rights to the throne, c) the family pact of 1837 forbids adoption in the family and d) the pact of 1997 doesn't override the previous clause forbidding adoption.
Of course the word "unmittelbar" can be interpreted to mean that Alexander would become first in line, but, if that argument was agreed, then why not Santa Claus? Surely the only reasonable interpretation is to assume that Alexander would succeed immediately when the part i cited of the constitution went defunct, not before.
However, if no further amending is done to the family pact, the Saxe-Gessaphes nevertheless are undisputably the rightful heirs when duke Albert passes away, as prince Timo's or his descendants' marriages have not been declared, beforehand or retroactively, dynastic. Thus Albert is the last member living of the dynastic male line of the house, and, thanks to the document shown, we know that he and his wife have already recognised the Saxe-Gessaphes as a dynastic line.
I cite the constitution of 1831 once again:
"In Ermangelung eines durch Verwandtschaft oder Erbverbrüderung zur Nachfolge berechtigten Prinzen geht die Krone auf eine aus ebenbürtiger Ehe abstammende weibliche Linie ohne Unterschied des Geschlechts über."
Or: "In the lack of a prince eligible to succeed as a member of the family or according to an erbverbrüderung the throne is inherited by a female line with dynastic descent, without prejudice to gender."
This is where the Saxe-Gessaphes fit in. After the death of duke Albert, not before.
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