Chief,
I'll try to keep it simple....
Yes, the 'angle of attack' for lack of a better term does come into play. Basically it all boils down to the fact that a smaller sprocket has to work harder to accomplish the same work a larger sprocket does.
With 14 teeth doing 100% of the work, it means each tooth carries about 7.14% of the total load in one rev. With a 12 tooth sprocket, the teeth each carry about 8.33% of the total load. ( in reality, all the teeth don't do the work, less than half of them at any time are doing the work...I just used the above figures for example)
Now the final gearing effects all this,(front to rear ratio) but even with the same ratio's, or very close, a 4:1 ratio using a 14 tooth front will be less stressful than a 4:1 ratio using a 12 tooth front.
When the 14 tooth front is used in the 4:1 ratio, it does make the sprocket teeth on the rear carry more of the total load, but there are many more teeth in the rear to distribute this transfer of workload, and it's not noticed like a trasfer of load to the front is.
By "noticed", I mean that the harder work the small front has to do, also means that less area of the chain is carrying load, so you will see accelerated wear on your chain as well as your front sprocket teeth.
Honda and maybe some others have tried to go to a 12 and it wasn't good, so they are back to 13's and 14's.
btw...we are very rough on sprockets and chains with our sport. In the industrial setting, a #50 chain (which is the same 5/8" pitch as a 520) is not recommended to be used with less than a 17 tooth driver(front) sprocket.