Nice. You could tidy that up a bit buy loosening the two screws on the left, removing the wires and cutting the bare wires shorter so that when they’re inserted and the screws tightened on them, the insulation extends into the connector so that no bare wire is external to the connector. That might also pertain to the right side but I can’t see it very well in the picture.
Thanks for your pertinent comments and advice! I have planned to protect the wires with electrical tape or the way you suggested to avoid bare wires. But in my enthusiasm and relief after some frustrating experiences on the ‘spare Tacx Bushido’ (very poor accuracy) I was eager to show the solution that brought back life to the Saris. It was a bit of a puzzle to figure out the correct connection between the wires from the power cable and the ones from the trainer. The adapter cable is a weird cable with a central isolated wire (white, that should connect to red-plus) and some mesh wire around the inner white one (to be connected to the black-negative).
Yep, you have it figured out. That wire you describe is usually called “shielded cable” and is often used by manufacturers to help ensure compliance with regulations on electromagnetic emissions and immunity. That’s not a concern at this point.