The red wire goes to the positive side of the coil and the black wire to the negative side. The negative side is identified as the side the green wire is removed from, when removing the points and condenser
Remove the points and condenser, install the compufire and add a drop of loctite to the securing screw and clamp it down with some force. (a loose module will cause numerous problems, just ask Dempwolf)
You should check your timing and possibly re-adjust as necessary but, that's easy
The installation is a worthy venture as you don't have to repalce points, adjust gap and dwell. In addition, the cap and rotor will last longer.