The use of contrast variation in spin-echo small angle neutron scattering (SESANS) experiments is discussed for the case of colloidal structural investigation. On the basis of calculations for several model systems, we find that the contrast variation SESANS technique, in terms of the measured SESANS correlation function G(z), is not sensitive to the structural characteristics of colloidal suspensions consisting of particles with uniform scattering length density profiles. However, its ability to resolve structural heterogeneity, at both intra-colloidal and inter-colloidal length scales, is clearly demonstrated. The prospect of using this new technique to investigate structural information that is difficult to probe in other ways is also explored.