I've never blown a hard drive up by fitting the cable the wrong way, so you should be okay to briefly test the setup.
THIS IS NOT A GUARANTEE OF SAFETY, just my experience.
I don't think the position of the red stripe makes that much difference, as long as the cable goes straight across.
It should be a tight squeeze to get the hard drive back in position as the two ends of the connector are very close together (not like the example photo as he has re-positioned the cradle to fit other stuff).
