Yes red and black and on the ends it will say speaker with a plus and minus, check the manual for correct orientation
Remove the ram and power on the system, does it beep? This is the same as if there is a bad video card the system will beep indicating no usable memory. If no beep this can sometimes indicate a bad mobo. Just let me know if it does beep or not this is not definate yet.
Its late, I will check out the psu and get back tomarrow