IME, they are pretty different.
Mimosa bark tends to have a quite distinguishable purple/pink ish color at least on the inside, often times in whole bark strips the outer color can be more greyish or brownish. Every batch of powdered or shredded bark I've come across is a very distinguishable purple/pink color.
I've only encountered acacia confusa bark a handful of times so I may not be the best resource on this, but it's always been brown/tan in color when I have encountered it.