It is a peculiar question, but interesting to ponder all the same.
I'd assume the WC particles would be smaller (assuming much smaller) than the diamond particles. Being that the WC is extremely hard, the diamond wouldn't (I assume) dig as deeply into the blade as it might if abrading something softer, like buttery-soft 1095 steel (relatively speaking). Only a small portion of each diamond particle's surface area would be making direct contact on the blade's surface, so the amount of material displaced should be small by comparison. Whatever swarf comes off, I'd imagine it would be quite fine.
Comparing with other sanding/filing/abrading tasks, where both the abrasive particles and the 'dust' generated are coarse enough to actually see by the naked eye (and feel by touch), the 'dust' is always much finer than the particles of abrasive making it. I'd have to assume the same would generally hold true, with other materials at much smaller sizes.
It would be very interesting to see microscopic images of the swarf generated, to see what shape they take too. In my mind (read: complete speculation

), I'm wondering if they'd actually look like particles per se, or maybe like thin shavings/strands, such as might be seen coming off a piece of wood when being filed/carved/planed, or from a piece of steel being turned or milled in a machine shop.
Hmmm....
Edit: bluntcut's point about the large carbides breaking out makes good sense.