The biblical text may not necessarily mean that he died. It was quite common for such texts to be included in samplers ( this one is from the raising of Lazarus). All we really know from the sampler is that it seems to have been created in 1909. Looking at the 1911 index on SP for a possible child, I came across an Alistair McLeod age 7 in Morningside,Edinburgh. Morningside would be within walking distance of the school. Out of interest I looked at the entry and he was a patient ( can't tell what hospital unfortunately) and his occupation is given as 'pupil'. His place of birth looks like Kaimes, Argyllshire. Right next to him is an Aneas (Aeneas) McLeod age 6, also born Kaimes. I looked for a possible birth and found an Aeneas Duncan McLeod born in Kilfinan, Argyll in 1904. Ancestry have a tree for him and it gives his place of birth as Kames, Argyll and parents as John McLeod and Margaret nee Mathison. Looking at the 1901 census for Kilfinan there are only a handful of McLeods and they include a John McLeod, who is the free church minister, and his wife Margaret. John died in Edinburgh in July 1948 by which time he was Principal Emeritus of the Free Church College in Edinburgh. A Google search brings up quite a detailed summary of his career. I believe he was in Edinburgh by 1911 and there is a possible for him in Morningside in the census.
The biblical text would make sense for the child of a minister and his profession would allow him the resources to send children to school. I am fairly sure that Alistair and Aeneas were brothers but I can't find a matching birth for Alistair in Kilfinan. There is however a birth for an Alexander McLeod in Kilfinan in 1903 which may be him.
This may be a complete blind alley, but thought it worth posting. The Fasti of the Free Church will probably have details of John's wife and children but I can't find an online transcript. None of the 1948 obituaries mention his children.
Isobel