There are 3 sleeve covered wires going to the motor and 2 going to the pack. The OEM sleeves are split so they can be removed without taking anything apart. If you want to cover all the wiring you need to disconnect the HV interlock connector at the front of the bike to protect you from the high voltage before you take the wires off the pack. If just the 3 motor wires then yes, the power is off when the bike is turned off. Remember when messing around with the wiring there is some high voltage supplied to the motor controller (used to wake up the controller) even when the bike is "off".
If you like orange (instead of red) you could remove the sleeves and tiewrap the wires so they aren't chaffing anything. Orange looks pretty cool and you could sort of preview what it might look like with the red sleeves before you disconnect anything.