Re: How will I know??
Probably want to snip the + wire, if you were using a stereo power amp or even if you are using 2 separate amps, -/gnd sides are probably all tied together or connect together through AC chassis ground. Safest just to cut both. FWIW, the + wire is the one connected to the tip.
BR, yeah, that is the idea, running stereo requires 2 separate circuits, but you'll need 2 power amps, or a stereo power amp to do it, a pedal won't cut it, and if you hook the speaker out to the pedal in, there will probably be smoke coming from the pedal shortly. IMHO, running stereo from one cab, especially a 2 - 12 cab, doesn't really do much because there is no real separation. At one point many moons ago, I had a stereo rig with two 2-12 Avatar cabinets that sounded amazing, but when you got to clubs they were usually running mono anyway.
This is a side track from your original question, your speakers are in parallel. Basically if 2 speakers are in series you add their impedance together, R1 + R2 + R... = Rtotal
If they are in parallel the total is the reciprocal of the total of the reciprocals of the individual impedances or Rtotal = 1/(1/R1 + 1/R2 + 1/R...), that looks complicated, the good news is with speakers, since they should be the same impedance, 2 speakers in parallel is basically 1/2 of each speaker, 2X 16 ohm speakers in parallel is an 8 ohm total impedance, 2X 8 ohm speakers is a 4 ohm total impedance.