Density functional calculations (DFT) on carbon monoxide (CO) adsorbed on platinum, platinum-osmium, and platinum-ruthenium-osmium nanoclusters are used to elucidate changes on the adsorbate internal bond and the carbon-metal bond, as platinum is alloyed with osmium and ruthenium atoms. The relative strengths of the adsorbate internal bond and the carbon-metal bond upon alloying, which are related to the DFT calculated C-O and C-Pt stretching frequencies, respectively, cannot be explained by the traditional 5σ-donation/2π*-back-donation theoretical model. Using a modified π-attraction σ-repulsion mechanism, we ascribe the strength of the CO adsorbate internal bond to changes in the polarization of the adsorbate-substrate hybrid orbitals towards carbon. The strength of the carbon-metal bond is quantitatively related to the CO contribution to the adsorbate-substrate hybrid orbitals and the sp and d populations of adsorbing platinum atom. This work complements prior work on corresponding slabs using periodic DFT. Similarities and differences between cluster and periodic DFT calculations are discussed.