Different mechanisms of spin pairing in doubly reduced polyoxometalates are studied on the basis of quantum-chemical DFT calculations. Using the nitrosyl derivative of decamolybdate [Mo10O25(OMe)(6)(NO)](-) (1) as an example, we elucidate an important role of the delocalization of "blue electrons". The charge distributions and spin states are studied for the series of isomers of I differing by positions of methyl groups (modeled by hydrogens). Three different states are calculated for each isomer: spin triplet, spin-restricted singlet, and a broken symmetry state. If the quasihomogeneous distribution of the "blue electrons" density is weakly perturbed by protonation, the delocalization mechanism is responsible for the spin pairing. It is evidenced by the singlet ground state given by a spin-restricted solution. If the perturbation of charge distribution is strong enough and the "blue electrons" density is localized at several metal centers, the exchange mechanism becomes active. A lowest energy broken symmetry state indicates the antiferromagnetic nature of the singlet ground state. The modulation of magnetic interactions in reduced polyoxoanions by external perturbations provides new possibilities for design of molecular magnetic materials.