If your host is like all of the ones I've received from Ehgemus, the red wire goes to the spring inside. For my wiring of his hosts I chose to use the red wire for the battery positive going to the diode drivers positive lead, I could do so because the diode I used had isolated polarity of both its negative and positive leads from its case. As you are aware of, or you wouldn't ask this question, some pointers are wired where the positive terminal goes in first touching that spring, others the opposite polarity goes to the spring. It depends on whether the case of your diode is isolated from its (-) cathode and (+) anode pins whether you would be forced to wire it so the negative side of the battery goes in first against that spring or not. I don't know if the M140 has an isolated anode and cathode from its case or not, tried finding the info on this page but no mention of it:
https://sites.google.com/site/dtrlpf/home/diodes/445-m140-didoes
Edit: Come to think of it, I had a M140 in a pointer in the past and had the batteries plus or positive side going to the spring inside with the red wire going to the drivers plus input tied to it, so the case of the diode is certainly floating, or isolated from it's plus and negative pins. Here's more:
http://laserpointerforums.com/f44/driver-questions-x-switch-86229.html
More here:
LZ4GV
FYI - The M-Type M140's average about 2.2W @ 1.8A using a G-1/2 lens. The low is about 1.9W and some coming in as high as 2.5W.