I was in Malapascua for three days in September and the thresher sharks showed up each morning. Mantas also appeared one day as well. In February the water is colder and the chance of seeing the sharks is about half of what it is from June to December. That being said, other than some wrecks (one of which is in 50 meters of water), I didn't think that the diving there was very impressive. Visability is much poorer than around Moalboal or Bohol and due to extensive dynamite fishing, there is not as much coral or fish life either. I know that traveling can be a bit of a pain, but my recommendation would be to visit Malapascua for a few days, see the thresher sharks (hopefully) and then head to either Moalboal or Bohol (more specifically Alona Beach, on Panglao Island, just South of Bohol). You can dive in Malapascua the morning you leave, stay in Cebu overnight and then get to Moalboal or Bohol early enough to dive that afternoon.