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Greetings,
I apologize for the delay in sending this letter to you. Our Scottish expert has been overburdened of late and we hoped that a delay would enable her to comment more fully on your name, but real life has taken her from us for the time being. She was able to make sufficient comment on the name that we can give you a definite answer.
There is no sign that the name "Alaric" would ever have been used in Scotland. It's possible that some Visigothic person might have ended up in Scotland, but there is basically no chance that he would have ended up with the name "Graeme."
"Graeme" is a later form of the 12th-century name "de Graham" (at that time, "Graham" would have been pronounced with two syllabes, "Gray-ham"). In the 12th century, the cultural distinction between "highland" and "lowland" Scots wasn't used, but "Graham" was used by the Scoto-Normans who were ancestors of later Lowland Scots. We did find a list of Anglo-Norman names in an article by Susan Carroll-Clark at
http://web.hal.com/~goldschm/nicolaa/short.treatise.on.anglo-norman.personal.names.txt
which contains a number of names you might find interesting, including Ailwin, Alan, Alard, Aldred, Alured, Amaury/Amalric, Arnald, Baldric, and Savaric. All of these would be appropriate for a 12th-century Scoto-Norman.
Arval D'Espas Nord, Effric neyn Kenyeoch vc Ralte, and Lindorm Eriksson contributed to this letter.
We hope this has been helpful, and that we can continue to assist you.
In service,
Alan Fairfax
Academy of S. Gabriel