I do palm stropping and, to me, it is something I could not stop doing. I can tell when my razor has not been hand stropped: I really feel a difference.
As for Mastro Livi and the video posted by @engine46 I guess it is however amazing how he can put a super cutting edge on a freshly made razor, therefore having no bevel, in less than five minutes. And, no, it is not fictional: it is something I personally witnessed many times.
When I met Mastro Livi for the first time and he told me about hand palm stropping, I was very happy because it was something I was doing already and, knowing it is something he suggests and does, it made me like the technique even more. And, of course, I will not stop hand palm stropping my straight razors.
As for Mastro Livi honing technique, well he is honing tens of razors every day and he has done this in the course of his sixty years of professional career. I guess he simply developed his own technique and, as far as I can tell, it works wonders. He can hone to perfection a dull razor in less than five minutes, from hones to hand palm and test. The same is true for knives, scissors and every cutting tool I have seen him honing.
As far as I can tell, hand palm stropping is not dangerous and it really takes little time and practice to master it. Mastro Livi suggests practicing hand palm stropping with a very dull knife, such as the one you would use for spreading creams over a slice of bread.
Start little by little and take your time: it does not matter if you do that quick or slow and going slow certainly is very good in the beginning. Take your time and you will enjoy hand palm stropping your razor.