Terry Moore replies: I sharpen my bandsaw blades all the time with great results. I bought a 1-1/4″ diameter sharpening stone with a 1/4″ shaft from a hardware store, these were made to be used in a drill. I put the stone in one of my laminate trimmer routers and use that to sharpen the teeth of the bandsaw. All you need to do is lightly touch the tip of each tooth with the stone until you see fresh steel. I reshaped the edge of my stone with a grindstone dressing tool so that the edge is shaped like a bullnose. That way after two or three sharpening, where I just touch the tip, I can then deepen the gullet with the rounded edge of the stone.
But for the first couple of sharpenings, you just need to touch the tip of each tooth lightly to reveal fresh steel and you are good to go. All this is done with the blade on the bandsaw, no need to remove the blade. Just keep turning the blade, grind 4-5 teeth, and keep rotating the blade. I sometimes mark the first sharpened tooth with a black magic marker, but the shiny fresh steel surface is really visibly evident. Be sure to wear goggles when grinding. I once had a piece of grit in my eye that ended in a visit to the ophthalmologist.