A [NiFe] complex [(dppe)Ni(pdt)FeCp*(CO)]+ was isolated and characterized as two isomers [1(CO)]+ and [1'(CO)]+. Heating the solution of [1(CO)]+ allowed it to convert into [1'(CO)]+. The one-electron oxidation of [1'(CO)]+ to [1'(CO)]2+ induced fluxional CO movement providing [1(CO)]2+. Recovery of [1(CO)]+ was realized by the one-electron reduction of [1(CO)]2+.