A standard burnisher, drill rod, drill bit, etc doesn't work the same on the Mystik as it does other scrapers.
Chris, actually I believe it's stainless steel. I bought mine from the Swanks, who market them, and Bernie told me how to sharpen it.
Often you can just reconstitute the burr without squaring everything up again by following the directions below, but if it doesn't work for some reason, take the time to make the edges flat and square to the sides with a smooth single cut mill file. I like to use about a 8-10" file.
Then hold it solidly in a bench vise and tilt the file a few degrees, its tip toward the floor, and file it with moderate downward pressure, running it mostly down its length, but also slightly off the edge. It will push a burr over the edge. File in only one direction. It should only take 10-20 strokes.
You can change the angle of the file a few degrees more or less, and/or for more or less strokes, to create a bigger or smaller burr.
Hope this makes sense.
One other thing to keep in mind, you know how a file's teeth are cut at an angle? And how that causes it to cut smoother one direction than the other, especially when filing at a sharp skewed angle to the workpiece? You can often feel it as you work the file. If you run it the smooth way, it will leave a cleaner edge on the burr of this stainless scraper. The rough way can leave a slightly jagged edge that will leave tiny grooves in the wood surface. Try it both ways, you'll see what I mean. Do all four corners of the scraper this way.
Mystik scrapers sharpen faster, but I rarely ever use it because I don't think it does as well as a regular cabinet scraper and the burr doesn't last as long... but it can be made to work pretty decent by using a file like above if that's all you have. Give er a shot.