I'm just about to install LEDs into my controller ports, using this tutorial. So, all I do is solder the negative side of the LED to the shielding and cut the red wire (5v, correct me if i'm wrong) and add a resistor to it and connect the other end of the resistor to the positive end of the LED?

P.S. San I put heatshrink/electrical tape over the resistor?
**EDIT**
Which tut is brighter? this or this?

i used this tut no cutting any wires, if u want to check it out, but ya according to the tut u found just cut the 5v, and u can cover the res.