When observing whether negative reinforcement is present with regards to physical cues for riding is really when you have to look at how the learning is taking place. In order for negative reinforcement to be occuring first the horse must be percieving the pressure of the legs or reins to be aversive. If the cue is not aversive the release will not be relieving to the horse and they will not learn from the pressure being released. Different horses will find different amounts of pressure adversive. Negative reinforcement is not necessarily a bad thing as long as the question is asked: how much pressure is too much pressure ? Or how unpleasent a stimuli is too unpleasent? This is a question of welfare. Personally I won't escalate pressure. I feel this is shouting a french person in english. If the horse doesn't understand a light averse stimuli I will find another way to get the horse to move in the direction I want. I feel it is a necessary in training that cues do not cause the horse discomfort or pain.
If the horse is not finding the pressure aversive, it is still possible to teach the horse to move in the correct direction from the pressure, by applying the cue waiting for the horse to move in desired direction (or indeed guiding/luring them in the correct direction) and then rewarding (with positive reinforcement). The horse learns from the positive reinforcement where they are suppose to move to. So the cue is now more a directional cue than negative reinforcement. With incredibly sensitive horses the pressure of the cue would have to be very light not to be aversive but for horses how are unconcerned by light pressure this training can encourage them to become sensitive and light to ride.
Of course negative and positive reinforcement can be combine to good effect, by rewarding (with a petting or food) as you release the cue in time with the correct behaviour being offered by the horse. It may also encourage the horse not to see the cue as averse as it predicts the arrival of reward.
The brain mechanisms underlying the perception of positive and negative reinforcement is a huge subject so here are a few nice papers on the subject. Sorry I am tired and it would be a huge post

Brain imaging of reward -
http://www.jneurosci.org/cgi/content/abstract/24/7/1660 Lots more avaible if you search. The main body of evidence being on the role of dopamine and the straitum/nucleus accumbens in reward.
Any cue or behaviour that predicts the arrival of reward can inherit by assocaition rewarding properties. This seems to be why positively reinforced animals enjoy there work more. Because the work which predicts reward has some rewarding properties.
http://www.jneurosci.org/cgi/content/abstract/12/12/4595 http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VS3-454797J-7P&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&view=c&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=971af369dd11a387f2d0dbf738ef292bhttp://books.google.co.uk/books?hl=en&lr=&id=q6RThpQR_aIC&oi=fnd&pg=PA249&dq=neural+negative+reinforcement&ots=zOWu-bEj0q&sig=GPcZTDxcZTWinUYyo7ggsDt6oCY#PPA249,M1This study is interesting as money is a secondary reinforcer to humans as the click in clicker is to horses -
http://www.jneurosci.org/cgi/content/abstract/23/1/303Differences between positive and negative reinforcement have been found and I haven't seen evidence of the predictors of adversive stimuli firing the reward neurons which I guess seems obvious.
http://www.jstor.org/pss/1421126 - looks like an interesting article if you wanted to spend money

There seems to be less work on negative reinforcement and aviodence learning than on reward.
Loads on punishment though if you type in punishment into google.co.uk/scholar.
Sorry for cheating but it would have been very long to type out.