Make sure you have it where you can hear through speakers when your recording. Is that what your talking about?
The pink wire is the mic, the green is the speakers. You can't have both for both things.
Okay then... I have my pink in my headphone slot on my computer, and the green going to my AV cords. Is that allowed? Or must the green wire go into the headphone slot?
You won't hear your computer, still.