First, if your Dremel isn't variable speed, don't use it. They turn waaay too fast. As for the Dewalt, if it turns faster than 2000 RPM, I'd be careful using it. You'd be surprised how fast heat builds up with a buffer. Especially using a Dremel...a very small buffing area running at 20,000 RPM.
Once you get your buffer speed thing sorted out, turn it on and lightly press the end of a green compound stick against it. You want to load it up like you would a strop. Get a thin coat of the green on the buffing wheel and start polishing away. Make sure you run the final application of sandpaper, Flitz, or green from the spine to the edge. This will keep you from putting polishing marks in your blade running from pivot to tip.
Flitz is a very strong polish. You might find you're OK after using it. Apply it with your fingers. Again, spine to edge (or vice versa, but be careful).
I'd take the knife apart again for the polishing. Unless you want to remove the clip and do the whole knife!
EDIT: BTW, I wouldn't waste my time with the "as seen on tee vee" stuff...