I believe it mounts in the correct orientation in Pic #2. Crank turns clockwise (facing the timing gear end), and that would be correct for the 'flaps' to work efficiently.
Yes photo 2 is correct, there are cutouts on both sides, so don’t go by that. The statement above that you want the flaps positioned so the oil flings off the crank weights and towards - through the flaps is correct.
Also note, I hade to add clearance to my tray for the oil pick up tube.
