Ken:
Usually the red part is up, so that the black part is at the tailpiece and you can see the color codes for each string at the portion of the string after the bridge( red -G, green -D, blue - A, black -E) , but at the end it really doesnt matter, you can put whatever end you prefer up or down.
about the loop, the reason that the 180's dont have the loop is because this way you can control the lenght of the string and avoid the metal winding going into the tuning machine, this is a necessity since these strings can break if the metal winding will go inside the tuning machines.
usually what i do when installing these strings is start from the top and leave the hard portion of the string that connects the metal winding to the cloth at the nut or 1 cm above, just after that i will knot the string at the tailpiece, the string will stretch and will be out of the nut. about the knot, you dont need to be a sailor or a boy scout, just 3 or 4 loops and the string will hold

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i know these strings can be a pain to mount specially on the 1st times, but its really a question of getting used, we cant change the mounting way because like i said before, the metal winding shouldnt go inside the tuning machines. About your show tomorrow, i dont think the strings will be ready because the silk core needs more time until its completely stretched, the 180's because they have a thinner core, take less time to stretch but still i would say a few days or even a week depending on how much you play.
About the strings you tried in the past, Velvet strings dont make these strings since 2000, they had the loop because 3 strings had the copper winding (like the Garbos and Animas) and so they were more resistant and the winding could go on the tuning machines , but the inox winding bows much better although is more fragile.
if your bass likes lower tension strings, the Suit will be better, you can try this by detuning the regular 180's half tone and see if the bass sounds better(by detuning half tone you will decrese 2kgs tension which will lead you exactly to the Compas Suit tension)
Hey, nevertheless you are officially the person who took longer to mount the 180's (2 hours right?), so maybe you will get a special compensation for that, ill let you know

email me if you need something else, thanks
Nuno