I'm betting it won't work as pinhead describes. This unit is a low side sense - it is sensing the voltage between the yellow and black. That voltage is the effect of V = I * R (where I is the current flowing through the shunt and R is the resistance of the shunt).
As posted before, for a unit to be able to sense low or high side it needs FOUR wires (+ve power, -ve ground and TWO sense wires that go across the shunt). This unit only has 3 wires and is a LOW side sense device.
You need a high side sense for an alternator since the 'case' of the alternator is connected to block/chassis/ground.
cheers,
george.