I was wondering in a 4 wire therostat if it matter if the black wire coming from the panel connects to the black on the stat? Then does the white wire connect to the red? I am using 14/2.

Well, from what I can decipher of this confusing post, I would say read the instructions. All thermostats are not the same. If you do not have them check online. I bet you find them.

I will say that with most line volt thermostats, red is line and black is load.

Are you doing a 240 volt baseboard heater or what?