I have bought this motorshield, but I am not sure of the polarity on the external power supply.
My best guess is that the left hole on the screw terminal in the picture is the positive, but I don't like blue smoke, so if anyone has this shield I would apreciate a confirmation on my guess.
Is your shield the one in that picture? I bought an Adafruit Motor Shield a couple months ago and it was a different PCB than the one pictured.
On mine, GND is clearly marked on the right and +M (Positive for the motors) is on the left. I've read on older board it's not so clearly marked so I can't help you there.