cmc at the top of the page there is a link to dura spark wiring. To me it looks like you would not want to have these wires reversed. Keep red to red and white to white. I never messed with one of these so you should take a look at the link and see what you think.

Is this a replacement for an existing module?  The plug's red and white wires do switch places on some of the plugs for duraspark distributors and modules.

If your truck had a blue strain relief module, it needs to be replaced with a blue one.  If it was brown, you need a module with the brown strain relief.

If you are wiring from scratch, make sure the white wire from the module only gets 12 volts while cranking.  The red wire should get 12 volts during run.  No matter what the color of the wires are on the vehicle, the ones on the module are you what you need to be sure of.  Just use a voltmeter to determine if the vehicle's wires give you the voltage you need at the correct time.

Hold on.   Your best bet is to trace the wires out first.   Last night I found a thread on Ford Muscle that actually had a picture of the red going to white at the plug.  But I cant seem to find it again this morning to paste.     

I did look at advance and it shows two different modules, The blue one and the three plug one for high altitude compensation vehicles.  

The red wire should go to the ignition, and the white wire will go to a place that only gets power while its cranking.   If you plug it in as/is it is it will not hurt anything, It will just not fire.   I think Id actually try that first.    Chances are, its just one of the vehicles that reverses the wire color at the plug.   Like that thread said last night,  I bet that has thrown a wrench in a lot of diagnosis problems over the years....