it`s AC the neutral and the live are both pulsing lives and the earth is just to earth the casing incase it becomes live for some reason when someone it touching it
from the picture it looks right only think I can`t see is if the live and the neutral are the correct way round but after fixing some china made lights they don`t seem to care some of the units I`ve repaired were wired up wrong and still working, explained why the casing was live, just thought I was getting static off it for years, lol
one of the "hot" wires one is the live and one the neutral, probably don`t matter for that device but yeah you have the earth right so your not going to get fried if you touch the box while its on