I am also facing the same issue " Failed Hosting the Spider ActiveX" while connect to ALM 12.01 from UFT 12.51.
I uninstalled UFT and re-installed. however the issue still remain the same.
So did you find the solution for this?
According to some very similar posts I found on the HP support site, logging into ALM through Internet Explorer first and then re-installing the UFT add-in for connectivity should fix it. I haven't tried it, though. Good luck!