PJ has it correct as far as the hot and cold goes. As far as the shield goes, my understanding is that the prefered treatment for the shield is to connect the input end of the shield to the cold, and do not connect the output end at all. Just trim it, and use a short length of heat shrink tubing to keep it away from touching hot or cold. I have been using that cable for interconnects, and input cable from the RCA's forward, with great success. I have been using both versions of that cable quite a bit.
Bernie.