Here are some links to stuff I read about vermicomposting. I have been following Savage Worms since they started a month or two ago but check out the video on Ryan is Hungry (it's a pretty good 'How To...').
Savage Worms Archive
Lot's of pictures.
Don't let them scare you; it's not that stinky...at least it shouldn't be
Video Diary...things get a little out of control. This is the first info I found after Martha Stewart did an exerpt on her show about vermicomposting. Watch this first video with the expert and you'll be hooked but also do more research. I think they put colored newspaper in the bin when starting but everything I have read says only black ink, white paper.
There are a few more videos but check out the archives.
Clear concise onesheet