Like most things in life, the nomenclature has got a little fuzzy over the years. An example is the meaning of 'wedge' - once it was a blade with straight edges, like a thin triangle in cross section. Where the faces meet at the apex is the cutting point, so I suppose each face could be considered a bevel - a bit different from that little strip of shiny metal most of us recognise as the bevel today! In honing, an equal amount of metal had to be removed from each face of the blade, over its entire width. Laborious. A piece of tape on the spine elevates the blade just enough to ensure that only a thin bevel at the apex is necessary - a slight hollow does the same, keeping just the edge of the spine and the tip of the bevel in contact with the hone. Nowadays, people seem to be calling even slightly hollowed razors 'wedges' whereas they are not. Better to call them 'near wedges' or 'slightly hollow ground' in my opinion.
A 'flat ground' razor is the same thing as a 'wedge' - the sides should be ground flat. Revisors example of a flat grind is anything but flat - it has a distinct hollow.
1/1 hollow is the same as 'full hollow' ground - a thin, flexible grind with a lot of metal scooped out of each face of the razor. It doesn't always look the same, though. The simplest full hollow grind is just that - the faces of the razor are ground on an arc. To make the blade a little less flexible, a 'ridge' of metal is sometimes left - in section you would see a ground arc, a bump, and another ground arc. This leaves a ridge running parallel to the spine, and complicates the grinding process, as a number of grinding wheels of different diameter are used to create the ridge. The ridge may be high or low on the blade. Low ones present a problem if the blade has been chipped and needs the bottom ground off as you soon get into thicker metal.
The 1914 catalogue Henckels produced show their grinds, starting at 14 - an extra hollow grind and finishing at 1 - a wedge (note that their wedge looks slightly hollow - a different beast entirely from early 1800s razors):
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The variations seem too miniscule to notice in many of the above examples - for instance a lot of the top row would qualify as a full hollow grind, in my opinion.
The extra-hollow grinds are examples of the most refined work - extremely thin blades that deflect easily. They are sometimes known as 'singing' blades, and are not to be confused with earlier sheffield examples that have 'extra-hollow ground' in the description or sometimes engraved on the blade itself, like some old Cadman Bengall razors: these are usually a bit stiffer than full hollow judging by the many examples I have seen and nothing like a german extra hollow from the Henckels table.
Regards,
Neil