Dez, the wire coming from the stator should be yellow with red tracer, and the wire that goes from the switch to the lights is gray (assuming it's still stock).
You need to keep the voltage regulator tied into the circuit.
What you'll want to do is take the Y/R wire and rig up a switch inline to the hot wire (red, white?) on the LED's.
(Y/R wire - switch - LED hot wire) No ground or additional wires, just a straight shot from the stator, through the switch, to the LED.
Depending on what type of switch you have, you could probably hook the LED hot wire directly to the switch's terminal end.
Splice into the LED's hot wire (or use the switch's terminal end if it has one) to the voltage regulator, after the switch.
(Y/R wire - switch - voltage regulator+LED hot wire)
The wire for the voltage regulator was originally gray.
Then, take the LED's ground wire (black?) and hook it up anywhere to the frame that has a ground.
So the basic path is going to be from the stator to the switch, then it'll split between the voltage regulator and LED, and past the LED the ground wire should be hooked up to the frame.
That should be all that you need to run the LED!
Quadman...the stock stator (for both the 250 and 500) puts out somewhere around 80W, it's generally accepted that 75W is a safe limit.
Can't recall how many watts the tail light draws, but newer LED tail lights are 5W or so.
You can get new lighting coils from Ricky Stator that are wound for 130W.
Could you imagine the kind of light 125W worth of LED's would throw?
CRAZY!
It's not difficult to replace coils, and they're only $40 (pretty cheap compared to those LED's).
http://www.rickystator.com/catalog/suzuki-lt500r-watt-lighting-coils-p-243.htmlSome guys are hesitant to buy stuff from Ricky Stator, but that was due to a mix up with another company that had a nearly identical name selling Chinese junk.
They were failing and everyone was blaming Ricky Stator for it (even though they weren't from Ricky Stator).
I think that company was called Rick's Motorsports Electrics, and via forum chat it was shortened to Rick's stators, and then someone thought "Oh, he must be talking about Ricky Stator's stuff".
I can't remember for sure how it all got started, but that's what it amounted to.
Nobody I know of that runs Ricky Stator stuff has ever complained about quality or reliability...I've even got one on my wife's blaster.