Yes, you would be right.In that diagram I was referring to the wire labelled B as live, in that if you held on to it and were earthed you would get a shock, but it seems that electricians would not refer to it in that fashion.
Technically the neutral wire is also a 'live' conductor but not a 'line' conductor.
That is why the everyday use of live and neutral is confusing - but that is how people refer to it.
However, frequently people call the two wires at a switch live and neutral, solely because one is red and one is black (or brown and blue).