We are given the limit expression:
\[
\lim_{x \to 0} \frac{1 - \cos(1 - \cos x)}{x^4}
\]
To solve this, we first expand \( \cos x \) around \( x = 0 \) using the Taylor series:
\[
\cos x = 1 - \frac{x^2}{2} + O(x^4)
\]
Substitute this expansion into the expression \( 1 - \cos x \):
\[
1 - \cos x = \frac{x^2}{2} + O(x^4)
\]
Now, substitute this into \( 1 - \cos(1 - \cos x) \), and expand the cosine term similarly:
\[
1 - \cos(1 - \cos x) = 1 - \cos\left(\frac{x^2}{2} + O(x^4)\right)
\]
Using the Taylor expansion for cosine again:
\[
\cos\left(\frac{x^2}{2} + O(x^4)\right) = 1 - \frac{1}{2} \left(\frac{x^2}{2} + O(x^4)\right)^2
\]
Simplifying:
\[
1 - \cos(1 - \cos x) = \frac{x^4}{8} + O(x^6)
\]
Now, substitute this into the original limit expression:
\[
\lim_{x \to 0} \frac{\frac{x^4}{8} + O(x^6)}{x^4}
\]
This simplifies to:
\[
\frac{1}{8}
\]
Thus, the value of the limit is \( \frac{1}{8} \), making the correct answer Option B.