A belt sander works well to form an edge, or reshape one, but it is a bit overpowered for just sharpening considering the speed of metal removal and what actually needs to get done. If the edge is formed but just dull, you should be able to get it sharp in a few minutes with a couple of small hones. I use a 600/1200 grit DMT diafold, or a 1000/4000 waterstone depending mainly on which is closest. If the edge is uneven, or doesn't cleanly meet, a few minutes with a bastard file with have it ready to be sharpened. In fact the as filed edge may work very well for you depending on technique and what you are cutting.
If you have a belt sander, it works much faster than the file for the initial forming or reshaping. Go with the most coarse belt you can find. However machetes are really easy to machine in general because of simple and soft steel so even a medium grit belt like 80 or so will really hog the edge down to a decent shape in one or two passes assuming you don't want to radically alter the profile. I would recommend that you try it with that edge left as is and if that doesn't work out, try working with a higher grit belt until you find one that suits you best.
This is a really basic and simple tool so don't make the sharpening overcomplicated. A quick few passes with a bastard file and then head out for some cutting would be a good place to start.
-Cliff