Through an extensive set of SQUID magnetic measurements, X-ray absorption spectroscopy, and X-ray magnetic circular dichroism, we have determined the nature of the metastable photomagnetic phase in the cyano-bridged 3D network Cs2Cu7[Mo(CN)(8)](4). The photomagnetic effect is induced by the photoconversion of Mo(IV) ions in low spin (LS) configuration (S = 0) into Mo(IV) ions in high spin (HS) configuration (S = 1). The magnetic and spectroscopic measurements fully support the LS to HS conversion, whereas the previously invoked charge transfer mechanism Mo(IV) + Cu(II) -> Mo(V) + Cu(I) can be completely ruled out.