Information from Eric Timewell in his June 21, 2015 comment under 'Lubra': I guess but don't know he [Stan Nieuwesteeg] also has 'Warrawee' from his brother, but the 'Warrawee' at Morwell comes from Golden Vale,
Margaret, The Book of Sydney Suburbs, compiled by Frances Pollon, Sydney: Angus & Robertson, 1990, ISBN 0-207-14495-8 says "warrawee" in the local aboriginal language means "rest a while", "stop here" or "stand." But I doubt that Mrs Fitzhardinge had that in mind. It would be like saying Mayfair means a fair in the month of May. It did but something has been added since.
Along those lines, my family tradition says that "Kombacy" (the name of my great-grandparents' house, hence part of the study name of several roses found there) means "here we sit down" in one of the Aboriginal languages. It's not as mellifluous as many Aboriginal names.
Warrawee in Mrs Fitzhardinge's day was a suburb exclusive beyond the dreams of any estate agent, with no shops, offices, post office, public school, churches, or cross roads, just 1–4-acre blocks of well-watered volcanic soil. The Fitzhardinges lived there 1917–1937 in a beautiful garden they had made and had close friends and relations nearby. Calling her rose 'Warrawee' expressed a strong esprit de banlieue.
The photo below shows the Arts and Crafts aesthetic in Warrawee a decade before the Fitzhardinges moved there.