With the wiring you describe, and 230 volt system. I'd call the black wire hot, and I'd call the yellow wire hot.
Christopher A. Young Learn more about Jesus
From looking at my diagram, the motors only appears to be only 230v at start up. Excludingthe capacitor, that leaves two wires: Black and Yellow. Black is "Hot". Just what, then, are you going to call the other wire--do you prefer the term "neutral"?
Bill