Multimodal deep learning models enable joint learning across heterogeneous data sources, including text, images, and video, but their rapid scaling introduces significant memory and communication bottlenecks. As model sizes and sequence lengths increase, training performance becomes increasingly impacted by data movement rather than computation. Frameworks such as DeepSpeed mitigate these challenges through CPU offloading, activation checkpointing, and communication optimizations. However, these techniques introduce additional system activity, which may affect energy efficiency. Meanwhile, tightly integrated heterogeneous architectures, such as the NVIDIA Grace Hopper (GH200) superchip, provide high-bandwidth CPU-GPU interconnects and unified memory, thereby reducing data transfer overhead. In this work, we present a cross-layer analysis of energy and performance trade-offs in multimodal training on GH200 systems, explicitly characterizing the interactions between application, runtime, and hardware layers. Leveraging high-bandwidth CPU-GPU interconnects, our results show that energy efficiency is primarily governed by data movement and overlap rather than raw compute utilization, and that configurations optimized for runtime are not necessarily optimal for energy. Based on these findings, we distill a set of actionable guidelines for practitioners that demonstrate how to balance offloading strategies, sequence parallelism, and hardware-aware scheduling to achieve energy-efficient training. Our results demonstrate that leveraging high-bandwidth CPU-GPU interconnects enables offloading strategies and sequence parallelism, achieving a strong balance among energy efficiency, runtime performance, and computational throughput, providing practical guidelines for efficient multimodal training on modern heterogeneous systems.