When people create slurry on a hone like the Guangxi, they do so because the slurry helps the hone cut faster. If you want to get the finest edge possible from a hone, you start with slurry and then keep diluting the slurry until you are honing with clear water. Thus, by putting slurry on your touch-up strop, you are not even achieving the same fineness you could get from the hone by itself using water. However, it would work rather quickly.

Many people find edges honed on diamond pastes or sprays to be harsh. The alternative of Chromium Oxide has already been mentioned. The other good alternative is Cubic Boron Nitride (CBN) which is available in both pastes and sprays.

I use strops with 0.5 micron and 0.25 micron paste. It creates a keen edge, without the harshness often associated with diamond sprays. I have not seen a 0.1 micron CBN paste, but 0.1 micron sprays are available. I have not yet tried the spray.