Pretty much identical to the coloured glass beads with circular and spiral patterns found at Beattock and Castle O'er in Dumfries and Galloway. Perhaps the Galloway glass bead makers went up to Moray for their holidays?
Martina has a recent paper in the JAS and it turns out the sand used for the beads came from what is now Lebanon and the suggestion is that the beads were made from re-cycled material .