In Welsh, "Lloyd" means "grey".
In Greek, "Linus" means "flax", which is a yellowish-grey colour.
Respectively, the two Reed brothers are named this as they are not good nor pure evil, but are more "grey" as they are in between both sides (get it?).
Therefore, like how grey is a mixture of black and white, they are a mixture of some good and some evil.

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Fire Emblem- Rekka No Ken Facts
LosoweWhat the title states! Spoiler warning to those of you who haven't played the game! (I don't own the cover art, credit to the original artist! :3) ~Justice