Yes and no, When you are finishing up with your stones you should try and reduce the burr as much as possible, a large burr can damage a strop. Stropping with compound is just like sharpening but at a much finer level. To get the best results you must finish on a very fine stone, 8000 grit would work well for this. The burr does not break off it gets polished away because the polish compound is removing the metal.
When you strop (edge trailing) you are basicaly refining all the large scratches that the stone left behind. Always try and strop at the same angle or slightly lower than your sharpening angle, leather has some give to it so the wrong angle and too much pressure can turn your edge into a high polished butter knife.
When you sharpen each progressively higher grit stone reduces the thickness of the cutting edge making it sharper. The strop just takes it to the next level, the compound you use also makes a difference. I like diamond compounds because they cut any steel and produce sharper edges than standard bar compounds.
Here is a short vid of stropping, two way are shown, tip to choil and choil to tip.
http://s284.photobucket.com/albums/ll20/knifenut1013/?action=view¤t=Picture322.flv
Here is a pic of a edge after a 8000 mesh diamond hone.
looking down on the edge at 200x
Same edge after stropping, this pic actually shows that the edge needed more stropping and that my last few strokes did not hit the edge. You can see the compound line just before the edge, the line before the edge that reflects like a rainbow is the excess diamond compound.
looking down at 400x