X- black, L-grey.
Don't know if the flasher will work as you want, as I don't know what is inside it. But, it won't hurt anything to plug it in and find out.
The stock flasher was load balanced to the bulbs used in the stock bike. Don't know if your selection needs to be load balanced or has it's own internal timing reference which doesn't require a specific load or voltage.
Some flashers are sensitive not only to load but the voltage applied. So, a topped up, or battery under charge, will flash faster or slower according to the battery state/condition. Some won't flash unless the battery is full and the engine running.
The Grey wire supplies power to the flashers. The black wire is the source, which the flasher unit interrupts. If the turn switch is selected, each connection between the black wire and the gray wire will cause the signals to light.
Cheers,