[spooky]

The colouring of the wires bares no importance to the final running of the psx after install so no need to worry about that.

By rule of thumb pin 1 is +V (red(positive volts)) and pin 8 is -V (black(zero volts)), it would be best to switch both of these lines to completely isolate the mod chip. Use a small DPST (Double Pole Single Pole) toggle switch.