It's a bit like house keeping: the process just tries to get rid of unused empty space within the database file. It doesn't actually touch your "real" data. Also, it's a functionality provided not by XMM but MS Access.
(Technically it's a bit more complex but hopefully this helps nevertheless to not worry about it.)
but this leaves me with a question; "Why there are unused empty spaces created in the first place? =D
Try to see the database file like a drive in a drive. There's always something going on on a drive. ;) Compact and Repair is (a bit) like defragmenting.