Did the tach work? Are you pulling this off a truck and putting it on yours? Is this a stock or after market tach?
Just going from how mine hooked up, usually red is positive. There should only be one wire going to the light... mine was white, sounds like yours is grey.
You have four wires and they should/usually go as follows...
1. positive
2. ground
3. signal
4. light
Sounds like the signal/green wire isn't hooked up to the dizzy.
Red SHOULD be pausitive. What do you mean by "labeled on the tach". Is it something someone wrote on it or is it actually manufactured like that?
If your gonna start swapping wires around to see what works I suggest you wire a fuse (10 amp) into the hot wire so you don't blow it up if you don't hook it up right. They are only a buck or so at autozone.
To put it simply I think you need to hook up the red to any 12v source, The white to any chassis ground, The green to the signal on the dizzy and the grey to the light.
Cybr: shouldn't there be only one wire going to ground? The way you told him to hook it up theres no wire to power the light(although I guess you could splice another wire off the hot to power the light).