The main subjects of this work are the ultrafast laser driven quantum dynamics of collective CO vibrations in a metal-dicarbonyl complex. The fundamental insights into the interactions responsible for bond dissociation are obtained by using shaped laser pulses to steer molecular quantum dynamics. Specifically, CpCo(CO)2 is studied on the basis of a four-dimensional reactive potential energy surface (PES). It is shown that two perpendicularly polarized IR laser pulses can be used to trigger an alternating localization of the vibration within one CO bond.