Brian,
Well I just spoke with Steve and my (incorrect) speculation above shows why it's not a good idea to guess before talking with an expert.
Steve said that hardchrome is so hard that a number of microfissures exist in the material. That creates the porosity about which you asked. Despite the fact that hardchrome has some porosity, hardchromed metals still seem to fare better in weather tests than comparable metal without the hardchrome. However, to get the maximum corrosion resistance for environments like saltwater, Steve said that you need to coat the metal with sulfamate nickel before applying the hardchrome.
Steve stated that additional benefits of hardchroming a blade include much better scratch resistance and higher lubricity. As you would assume, the higher lubricity means that the blade surface is more "slippery" so it slides through the material being cut with less effort.
I asked Steve about re-chroming a blade and he said that it is possible for his company to bead blast a blade then re-apply hardchrome. However, since the chrome is harder than the underlying steel (into the C70+ range), any scratches that get through the chrome are likely to have an impact on the steel. Therefore, the steel would probably require polishing prior to re-chroming, in order to assure a smooth finish. I didn't ask him, but all of that sounded expensive.
I hope I have accurately conveyed what Steve told me and, if you have any further questions, I expect to see him next Thursday at the Adventurers' Club, Los Angeles, for the weekly program.