I assume you are wearing academic dress for the ceremony and then there will be social events on the day when you will not be in your gown. The hood and maybe the gown may be pretty colourful and therefore your kilt shirt and jacket in more restrained colours should look great. When you are just in the kilt and jacket, you will need a touch of colour and flashes will help (red is best, blue is fine).
I like wing collars but I think in Scotland the turn down collars are preferred for Highland dress