Myoglobin is an important protein for the study of structure and dynamics. Three conformational substates have been identified for the carbonmonoxy form of myoglobin (MbCO). These are manifested as distinct peaks in the IR absorption spectrum of the CO stretching mode. Ultrafast 2D IR vibrational echo chemical exchange experiments are used to observed switching between two of these substates, A(1) and A(3), on a time scale of <100 Ps for two mutants of wild-type Mb. The two mutants are a single mutation of Mb, L29I, and a double mutation, T67R/S92D. Molecular dynamics (MD) simulations are used to model the structural differences between the substates of the two MbCO mutants. The MD simulations are also employed to examine the substate switching in the two mutants as a test of the ability of MD simulations to predict protein dynamics correctly for a system in which there is a well-defined transition over a significant potential barrier between two substates. For one mutant, L29I, the simulations show that translation of the His64 backbone may differentiate the two substates. The simulations accurately reproduce the experimentally observed interconversion time for the L29I mutant. However, MD simulations exploring the same His64 backbone coordinate fail to display substate interconversion for the other mutant, T67R/S92D, thus pointing to the likely complexity of the underlying protein interactions. We anticipate that understanding conformational dynamics in MbCO via ultrafast 2D IR vibrational echo chemical exchange experiments can help to elucidate fast conformational switching processes in other proteins.