Might be moderately useful for lightly burnishing the edge and cleaning up or realigning burrs or rolled edges. Beyond that, it'll likely at least be very, very slow to do some things that might only take a few passes or a few minutes with more appropriately-chosen finishing methods for 'super steels', like hard strops using diamond compound, for example.
For perspective, consider that the vanadium carbides in the 'super steels' will be about 3.5-4X as hard as the natural abrasive (novaculite) in an Arkansas stone; Knoop hardness of vanadium carbides is about ~2800, and the novaculite is no greater than ~800 Knoop hardness. If trying to polish edge bevels, that'll greatly limit how effective the Arkansas stone will be. It'll also generate a lot more wear (glazing) in the stone itself, which may reduce it's ability to work on other simpler steels in the long run. In effect, the carbides in the steel will 'polish' the stone over time, instead of the other way around.
David