This is true for some but this one is like most others, it is the back that is embossed. If you have a Certifyd you can verify this. It is part of the processing that helps to make the leather more supple.
Printable View
Here are some other photos. The top layer feels sorta of rough like a pressed rough leather; the bottom has a smooth feel, sorta of like smooth rubber. So it could be reversed as suggested.
Attachment 83128
Attachment 83129
Now, when you look at it from the edge, it's not so easy to tell.
Attachment 83130
Here is an archived post by strop maker extraordinaire, Tony Miller, addressing the Russian strop.
That last pic looks like the top grain is the red side but it could even be a split hide & the embossing gives that illusion:shrug:
The main thing is that it works :)