I believe that loading implies that the strop is fully saturated, while glazing is just adding a light surface coat.

For example:
Last night I had a few too many (dabbs of ChromeOx on my strop). I(t) got loaded.
I just put a light coat of ChromeOx/water on my strop and now it is (excuse me officer, have you been eating doughnuts? Your eyes look a little) glazed.