I started wiring my IB-5 that I started a couple of years ago. The instructions talk about the hot wire as being white, however the pups in the kit have the white twinned with a red wire, which I assume is for coil splitting.
So, am I right in assuming that the black in this case is the hot wire and the green with the bare shield is the earth? (See attached photo)
Yep, the factory has changed from 2-wire (hot and bare) pickups to 4-wire (plus bare shield) versions.
Black = hot (connect to volume)
Red & White = series link between coils (leave joined and just insulate the tip so it can’t short if you’re not doing coil splits)
Green & Bare = ground and shield (connect them to your ground point, back of pot etc)