Deku might be completely shocked at first. Since Bakugou has always been so aggressive towards him, he would never expect such a confession. He might just stand there, mouth agape, not knowing what to say.
He might cry a lot. Deku is very emotional, and being cheated on would be a very painful experience for him. He could also get angry, which is rare for him, but this situation would be so unjust that he might not be able to hold it in. He'd probably start to question his self - worth too, thinking that there was something wrong with him that made his partner cheat.
Deku might be initially shocked. He's used to Bakugou's aggression, but an actual injury is different. He could be in pain and disbelief at first. Then, he might try to downplay it, especially if he doesn't want to cause trouble for Bakugou, because Deku is generally a very forgiving character.
Some characters might try to understand Deku's motives. Kirishima, who was close to Bakugou, would be angry at first but might also try to find out if there were any extenuating circumstances. However, many would be afraid of Deku, seeing him as a threat now that he has killed one of their own.
Uraraka would be heartbroken. She was one of Deku's closest friends. She might lose some of her usual cheerfulness and become more focused on finding out who or what was responsible for his death. She could also struggle with her own self - confidence in using her quirk, as Deku was always an inspiration to her.
Well, some might be really amazed. They could see a new side of Deku that they never knew before. His singing might show a different level of confidence or a hidden talent, so they would probably cheer him on.
The main differences are in their expressions and some minor details of personality. In the manga, Deku might seem a bit more intense, while in the anime, he's sometimes presented a bit softer.
His friends could come to the rescue. Bakugo, for instance, might use his explosive power to break into Toga's hideout. He's always been competitive with Deku, but he also cares about him deeply.
In 'deku meets future deku fanfiction', perhaps the future Deku warns the present one about upcoming threats. He could tell him about villains he'll face in the future and how to defeat them. This would give the present Deku an edge in his battles and also in his growth as a hero.