To answer your question, I think it will be OK of you orient the fans parallel to the ram.
If necessary, the fan can be slipped up a bit to clear the heat spreaders.
But, why not just get a 2 x 8 gb kit of low profile ram instead?
http://www.newegg.com/Product/Product.aspx?Item=N82E16820145357
1.5v ram really does not need heat spreaders, and ram speed makes very little difference in actual app performance or FPS(1-3%?)
http://www.anandtech.com/show/4503/sandy-bridge-memory-scaling-choosing-the-best-ddr3
A two stick kit will make it easier to OC since the motherboard will not have to manage the voltages on as many sticks.
Also, the cm hyper212 is a fine cooler as is. Why not try it out first?
Yes, you can replace the fans with higher CFM models for better cooling, but at the expense of more noise.
I am betting that for any sane overclock you will not find it necessary.
If desired, it is easy enough to change fans later.