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Who here charges their leather strop with either white or green compound versus just using the plain leather?
Yes. Great infoYes.
Seriously though, it depends on what you want to accomplish. White compound will be the most aggressive (assuming it's white aluminum oxide; some 'white' compounds are much less aggressive, like tin oxide), and can work FAST for cleaning up heavy burrs or bringing up a polish. Green is considerably less aggressive, won't polish as fast or as well, and is better-suited for cleaning up finer burrs; heavy burrs may not respond to it. Plain leather is the least aggressive, and may not help much UNLESS your edge is already very fine & thin (shaving sharp), in which case it might take it from shaving to tree-topping or hair-whittling; a very small change at the very fine end of edge-finishing, but still noticeable if the edge is ready for it.
In a nutshell, try three strops with each (white, green, bare leather). Each will have it's place in refining your edges, and that will become more apparent with time and usage.
David