If you want the emergency engine cut-off feature you'll have to separate the black/white and the black wires and tie them in on either side of the switch. If you don't (as I did on Sophie...retro switchgear = no engine cut-off) you just have to splice them together.
On the '79 650 wiring diagram
blue with white stripe high/low headlight switch, one side
(blue) headlight high or low, not sure which, headlight switch other side
(white) headlight high or low, not sure which, headlight swithch other side
white with green stripe horn switch, one side
black with red stripe headlight cut-out when starter button pushed in
green with yellow stripe front brake light switch, one side
yellow with red stripe starter button, one side
black with white stripe engine cut-off, one side
black starter button, other side
(green with red stripe) clutch cut-off switch, one side