The Red is the Left channel (Tip) and White is Right (Middle band), Blue wires are ground and connect to the last band. I'd suggest putting the holes for the cable connecting each side more on the outside because it does impede the swivel a bit the way I did it.
Here is a link to the tool I used to make the hole -
The cable connecting each side is 2 conductor cable from a broken wall wart adapter. I'm waiting on a Beyer headband which will just snap over the stock band and hide the cable.
The cord I'm using to connect to my source is a braided Auvio dual stereo plug from Radioshack (cheap but seems ok quality).
Enjoy! And don't forget to vote!