Two dimolybdenum compounds featuring amidinate ligands with a C≡C bond, Mo2(NN)4 (I), where NN = N,N'-diphenylphenylpropiolamidinate, and trans-Mo2(NN)2(T(i)PB)2 (II), where T(i)PB = 2,4,6-triisopropylbenzoate, have been prepared and structurally characterized by single-crystal X-ray crystallography. Together with Mo2(DAniF)4 (III), where DAniF = N,N'-bis(p-anisyl)formamidinate, all three compounds have been studied with steady-state UV-vis, IR, and time-resolved spectroscopy methods. I and II display intense metal to ligand charge transfer (MLCT). Singlet state (S1) lifetimes of I-III are determined to be 0.7, 19.1, and 2.0 ps, respectively. All three compounds have long-lived triplet state (T1) lifetimes around 100 μs. In femtosecond time-resolved infrared (fs-TRIR) experiments, one ν(C≡C) band is observed at the S1 state for I but two for II, which indicate different patterns of charge distribution. The electron would have to be localized on one NN ligand in I and partially delocalized over two NN ligands in II to account for the observations. The result is a standard showcase of excited-state mixed valence in coordination compounds.