You'll know if they are the wrong way around because you'll be able to tell the difference (they will be out of phase with each other). In-phase : the vocals will be centered. Out of phase : they will be diffuse (you won't be able to pinpoint their exact location). On my U6, the difference is subtle but there, and the drop in bass is also noticeable.
If you have both out of phase it is less noticeable (apart from the bass), but if you have one in phase, and one out of phase you're really going to notice the difference.
It won't hurt the earphones - so try it for yourself. In-phase on my pair is definitely both dots facing the rear of the IEM. Both out of phase is dots facing forward. And if you want a surreal experience try one forward and one back.
But yes - blue is left and red is right - both dots should face the rear.
This might also help - http://www.diyaudio.com/forums/headphone-systems/235030-if-headphones-out-phase-can-you-hear.html
The funny thing about it is that on 64 Audio's website you can see an image with a little pattern that looks like a little sun on the actual pin surrounds. In the photo both are facing out. In reality the right should be out and the left should be in. Their photo actually has the left earpiece wired out of phase (as far as I can tell anyway). It's either that or I have a uniquely wired cable.