We study the dynamical behavior of excitons in a bimodal distribution of CdSe/ ZnSSe quantum dots by intensity dependent, temperature dependent, and time resolved photoluminescence. The effect of exciton localization is investigated, both experimentally and theoretically by identifying transfer mechanisms due to thermalization and redistribution of excitons. We observe a dominant exciton emission from high energy dots ͑QDs1͒ and weaker emission from low energy dots ͑QDs2͒ at 10 K and at low excitation levels. At high excitation densities a CdSe QD-precursor state becomes visible at the high energy side of the QDs1 emission. Temperature dependent photoluminescence studies reveal a thermally activated exciton transfer from QDs1 to QDs2 resulting in an enhanced QDs2 emission above 60 K. Time resolved photoluminescence measurements allow us to estimate the characteristic radiative and nonradiative decay rates as well as the trapping rate from the QD-precursor layer. The experimentally observed photoluminescence is reasonably reproduced using a coupled rate equation model.