922F is probably pretty close. Prince Charles Edward of Albany (Prince Leopold of the UK, 1st Duke of Albany's posthumous son & heir) was the COL-in-Chief of the Seaforth Highlanders like his father before him. He was, thus, a British prince and the 2nd Duke of Albany, long before he was ordered (by Queen Victoria) to take up the vacant post of (German) Duke of Saxe-Coburg & Gotha. All of the above posts seem to suggest this as a legitmate, if routine, medal swapping (for lack of a better label).
"Carl Eduard", as he was known in Germany, ended up on the wrong side in the Great War. Despite being ordered there by a British monarch, he wound up stripped of his British titles by act of another British monarch, for having followed the royal dictate. "Bitter" seems the best label for how the former duke felt and how he conducted himself afterwards. You are probably aware the he ended up as a pet of Hitler.
No Seaforth Highlander (or anyone else) would have had any notion of that future infamy, in 1911. Your grandfather appears to have commanded all the respect of an honorable, professional soldier. Thanks for sharing!