Colonization and piracy are very different things. Making attacks and looting are easy things, you attack someone who is not prepared, take as much as you can carry and run away as quickly as possible. Colonization you have to resist the attack back. There is no option to escape.
Okay, let's assume that they really try to colonize the region. At otl they had several problems:
The problems faced by the settlers included a lack of provisions due to famine in Scotland, the Scots' lack of colonizing experience, diseases such as malaria, poor weather and the proximity of the Spanish, who claimed the land the Scots had settled on. Also, for a trading colony established to trade with passing ships in both the Pacific and Atlantic Oceans, they carried a poor choice of trade goods, including wigs, shoes, bibles, woolen clothing and clay pipes. The colony received no assistance from the crown or English colonies in the West Indies or Jamaica, despite having been promised, in the 1695 act, the assistance of William II. Thus, the Scots faced assaults by the Spanish on their own. In 1699, they dealt with this by recruiting a Jamaican captain to raid Spanish shipping as a privateer, but this achieved little. Soon thereafter, the Spanish mounted an expedition of 500 men to wipe out the Scots. This was effective, as most settlers had already succumbed to disease or starvation.
wiki:
https://en.wikipedia.org/wiki/Scottish_colonization_of_the_Americas#:~:text=In 1696, 2,500 Scottish settlers,(0.61 km2) each.
Now we have to see what is possible to improve compared to otl. More provisions is the first and most important. Diseases such as malaria, poor weather and the proximity of the Spanish cannot be fixed, they are part of the package. Maybe a little more luck with the weather, but that's it. Assistance from the crown/England is another vital point. In relation to settlers, the best thing would be to send prisoners to deal with the absurd mortality rate. Other than that they have to deal with attacks and raids made by the Spanish. But assuming everything goes right or most things go right, it is viable. It will be a colony with a siege mentality. that's the best luck, if it's done by pirates like a tortuga, well the pirate colony will be burned. It is very close to very important point for sending silver to Europe and Asia. The Scottish colony would basically be a plantation region with a white minority. Ah and probably we don't have union of scotland and england.