The metastable omega phase stabilizes either in hexagonal (P6/mmm) or trigonal () structures depending upon the extent of collapse of the atomic planes. The stability between these two structures depends on the atomic scale shear mechanism of the omega formation and also on the relative composition of the bcc stabilizer. Detailed interpretation of the bcc -> omega phase transformation demands understanding of structure, chemistry and interface of omega phase along with the bcc matrix down to the atomic level. Present paper deals with the structural imaging of partially collapsed omega structure and its lattice correspondence with the bcc phase in a phase-separated V-Ti alloy. High-resolution TEM characterization with the aid of phase-contrast image simulation and atomic structure modeling has been systematically carried out to study the structural aspects of the nanostructured omega. The contrast of the collapsed atoms and the corner atoms are understood through systematic studies of the experimental images and their corresponding column intensities, as seen along simulated exit waves and their phase and amplitude parts along different zone axis. Attempts have also been made to understand the qualitative nature of the electron channeling behavior along the different atomic positions of the omega structure.