I beleive the "high" leg should be marked orange. Below is from the NEC Handbook 2002:
215.8 Means of Identifying Conductor with the Higher Voltage to Ground.
On a 4-wire, delta-connected secondary where the midpoint of one phase winding is grounded to supply lighting and similar loads, the phase conductor having the higher voltage to ground shall be identified by an outer finish that is orange in color or by tagging or other effective means. Such identification shall be placed at each point where a connection is made if the grounded conductor is also present.
Where the midpoint of one phase winding is grounded in order to supply 120-volt lighting and similar loads from a delta-connected, 3-phase secondary, one phase conductor will have a higher voltage to ground. An orange finish, orange tape, or other effective means identifies this phase conductor at any point, such as junction or pull boxes or panelboards, where connections may be made and the grounded conductor is also present. The orange high leg of a 3-phase, 4-wire 240/120-volt delta system is 208 volts to ground (120 volts multiplied by 1.73 equals 208 volts) and should obviously not be used for 120-volt circuits. See 110.15, 230.56, and 408.3(E) for details on high-leg marking and phase arrangement. The conductor with the higher voltage to ground is identified in Exhibit 215.2 as having an orange finish. The identification must be visible at every point where a connection is made if the grounded conductor (neutral) is present.
Exhibit 215.2 Identification of the high-leg (orange) conductor of a 3-phase, 4-wire, 240/120-volt delta circuit.
