Hi moiremusic.
I'll have a crack at this one. I built one like this as well. It worked great! I have a 50watt Marshall and at a
very loud playing volume only a little 'woof woof' could be heard (or rather felt) outside the box.
To answer your posted questions. Only a microphone cable is 'balanced'. It generally contains 3 wires. These correspond to hot, cold and ground wires. Two covered wires and the bare ground wire are inside.
The guitar and speaker cables use two wires only. positive and ground. Guitar cables are shielded, speaker cables are not. Hardware stores have electrical cord, use this for your speaker connection (12 - 16 gauge). You only need a short section.
I hope you don't mind if I include my "head-fakers" guide to sourcing parts. Use what they gave you if it will be easier to solder. Or, if you have any broken mic, guitar or speaker cables lying around, use them. If you don't have any handy but buy alot of gear from your local music store, go there and see if they have any dead cables they can part with. Otherwise, buy it at the cheapest place you can. Using sections of cable it will make it easier to see what your doing.
Might I suggest approaching it like this:
1. Label corresponding jacks on both plates with Sharpie.
2. Cut cables to length and strip ends. Leave enough to work with! You will shove any extra cable length inside box when finished.
3. Start with the panel that will be inside the box. This is the one with the female XLR's (on the left in photo).
4. Solder all cables to connectors on inside panel. Label them as you go with masking tape.
3 wires for each XLR connector, 2 on each guitar, fx send/return, and speaker cable. Look here
http://en.wikipedia.org/wiki/XLR
for XLR wiring.
Scroll down page to XLR3 connectors and look at the female/male pin diagram there. This is the only tricky part. Later, when you solder the inside panel cables to the outside panel connectors the ground Pin1 on male must go to pin1 on female, Pin2 to Pin2, etc., or you will have microphone phase problems.
guitar jack connections will be: inside panel A tip to outside panel A tip, inside panel A sleeve (ground wire) to outside panel A sleeve (ground wire), etc.
5. Attach panel to inside of box and feed cables through hole.
6. Solder outside panel connectors up.
7. Try everything (important step).
8. Shove extra cable length into insulation and attach outside panel.
9. Yippee!
Wow, and all those girlfriends called me selfish.
Cam.