There's some good advice here and there in this thread. Tom above is right: For a loupe to work on blades, you have to set it up correctly. Specifically:
1. The loupe is usually very, very close to the blade. So it produces shadows which makes the work hard to see.
2. The blade to loupe distance has to be held very constant. I've found that gripping my (extremely cheap, junk loupe) and the knife in the same hand, with the knife supported by one finger, lets me maintain that constant small distance (about 1/2 inch for a 10x loupe) and provides the stability I need to see the edge. Moving the blade up and down with one finger, you can see the focus change until you get it perfect.
3. LIGHT. You need light shining on the edge that is NOT impeded by the loupe itself. Angle is important here, but diffuse light is more important. Using a point source of light sucks compared to a strong diffuse light source (like strong bathroom lights near the mirror for example).
4. As always seeing blade details is nearly 100% revealed by the REFLECTED LIGHT. This is such an important concept that I wish I had learned earlier. An old man who sold me some sharpening supplies tried to explain it to me years ago, but I thought he didn't quite get it. Why should I have to use reflected light? That's not the real blade right? Wrong. I'm a moron for thinking that. The reflected light tells us SO MUCH about the edge that we can't see with the naked eye. This is even more true when using a loupe. Get a good view of the plane of the blade reflecting light and you will see the truth. Imperfections are revealed as a non-uniform reflection. Secondary (or unwanted) bevels are easily seen in reflected light.
5. SHARPIE! Another piece of advice I wish I had understood years ago. I thought sharpie on the edge was only for beginners. ..and I'm not a beginner right? I've been doing this for YEARS. Wrong and wrong again. I'm still a beginner. ...and sharpie is to be used frequently and reapplied during a sharpening session. It shows you what you are grinding and where you are grinding. With a loupe it shows more detail than I would have expected. Especially when evaluating whether or not you have apexed the ENTIRE edge. So many times I have thought I have apexed the whole edge and then checked with a loupe. Bzzzzzzt, try again. I see marker on the very, very , very edge of the edge, which (of course) means I have not reached the apex. Keep going until you see no marker and the bevel is all shiny ground metal.
Perhaps what I've written isn't what you were expecting, but it all about my experience using a loupe, what works, and what doesn't. I hope it helps someone.
Thanks,
Brian.