Mr. Landes has a similar discussion on another forum, gave some more detail.
http://www.knifeforums.com/forums/showtopic.php?tid/746080/tp/1/
"" Now the rule is, once you did HT on it there is nothing else to be used but water cooled grinding systems, e.g. water cooled Tormek japanese water stones...
Although many makers do different like on the belt physics cant be beaten. And worst it matters!
Now why is it so, the very fine edge of a sharp knife is a very fragil geometric body, that tapers on the one side to "0" and grows on the other side to the body of the whole blade section.
When you grind the fine edge, heat is generated and flows into this body. using a water cooled system takes away this heat by flushing around the affected area. If you leave the coolant away the heat flows directly into the body.
Research has shown (H.Stüdemann, Elauterjung,R.Grube,1980, Research Report Nr. 2923 County Nord Rhein Westfahlen, Solingen Germany,as well as own test)that the heat genarated wo coolant exeeds temperatures of 600°C and more in the area of the edge.
Means the very fine part of your nicely sharpened edge is overheated bejond the tempering maximum of any steel available and herewith softened.
It happens so even on a slow moving freshly equipped beltsander wo coolant.
The resu is a more or less quickls dulling edge at the overtempered areas.
Normally the overheating is not visible by bare eye but can be nicely shown doing microscopic hardness testing where it reveals its effect.
If one thinks dipping it once in a while into the cold water not to overheat it, sorry but one cant be quick enough.
So grind cool to stay sharp longer..
Regards ""