Originally posted by Anvh HSS does not strobe actually, i also thought that but it isn't true.
When you look at the amount of light a flash give you have a deep spike and then fall of quickly but the fall off will slow down. What HSS do is not not capture all the light, or the peak of the light but it delays the exposure. The exposure goes off when the light of the flash settles down and you basicly only just use the "after glow" of the flash. So a flash with long flash duration actually has a shallow (brighter?) after glow.
There are actually two methods of syncing above max sync, and I think you may be confusing the two, or at least the names.
High Speed Sync or HSS (what Nikon now calls FP or Focal Plane sync)
does indeed produce a stroboscopic effect which pulses for the entire time that the shutter curtains are in motion, 1/180th of a second in the case of Pentax. This allows the entire frame to be illuminated, but by separate bursts.
Hypersyncing has no acronym to my knowledge and is not a standard option for the Pentax system. Hypersyncing utilizes the long tail of a single powerful burst to provide light while the curtains are in motion. Shutter timing comes into play, because as you say, the peak of the burst isn't captured, otherwise part of the frame would be brighter than the rest, so the first curtain only begins it's movement after the peak of the flash. I know Pocket Wizard offers hypersyncing mode for Canon and Nikon systems with their Flex TT5 recievers, but either they don't know the timings for the Pentax system, or more likely, they know them but deem such a trigger system commercially unviable.
What may be confusing is that some older Pentax film cameras had an "FP" sync port for syncing with flash bulbs or older flash guns that used that method of timing. But that FP sync and Nikon's FP sync, which is really HSS, are different.