Is your Crocus Cloth red in color? I don't have any, but online descriptions for some of this material suggest it uses iron oxide (red) as the abrasive. If so, it's likely too soft for use on hardened knife steels. 'Crocus' is usually associated with iron oxide polishing abrasive used on softer metals (jewelry, brass, etc.) and gemstones.
Other online descriptions seem to suggest at least some so-called 'Crocus Cloth' products use aluminum oxide (emery) abrasive, which are hard enough for knife steels, and may be useful for sharpening/polishing, depending on grit size. Some 'emery cloth' products would be a lot coarser than would likely be useful for knife sharpening.
David