The tap wire is connected to the join between the two coils. You'd normally switch this to ground if you wanted to do a coil tap.
I'd only use one set of balance pot connections, have white and red on the two outer connections and have the wiper connection going to the volume pot. The balance pot then selects a balance between the fully single coil and fully humbucking sounds. You do have the balance pot resistance linking across the second coil, so there may be a very slight drop in volume, but I can't think of any other way to make use of the balance pot.
If you find that you want to use the other coil for single coil, then you will have to swap the black and red wires around. This will reverse the phase, but as there is only the one pickup, then it's not an issue.
Just leave the other set of pot tabs unconnected, or just join all its tabs together and connect to ground for completeness.
Obviously the black (or red if swapped) wire and cable shield get connected to the pot back and ground as normal.
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