A valve handle like that creates a situation where the position of Hot and Cold can be subjective to the users perspective depending on where you think the handle is "pointing". I've had this argument with homeowners and inspectors who just don't get it.
The tip of the handle or the visibility of the colored dots can and does confuse people. Most installations I've encountered with a side mounted lever handle is that pushing the handle back away from the user is Hot and pulling it forward is cold. Now most manufactures have done away with the 50/50 mix being straight up since the handle would often hit the back splash in the Hot position, so the handle in the top dead center posistion is almost full hot and the 9 oclock position (some users may have to google old fashioned clocks to understand this term) is the new 50/50 position.
PS. The photo is showing a lavatory faucet.
PPS. If the hot doesn't appear to be coming from the correct handle position, simply switch the supply tubes under the sink to correspond with the output you want. It may be that the stub outs are switched, or the tubes sticking out from the valve were installed opposite of what they are supposed to be, or they're correct and there is not "left or right" or maybe its left and right while facing up from under the sink.. either way its an easy fix. And no matter where you put it, you will get used to it in about 2 weeks.