On amenability of group algebras, II: graded algebras

This paper continues math.GR/0608302's study of amenability of affine algebras (based on the notion of almost-invariant finite-dimensional subspace), and applies it to graded algebras associated with finitely generated groups. Due to a mistake in Lemma 4.3, the main statements of the present paper should not be considered as proven. The results in Sections 2 and 3 are nevertheless valid.