The "missing" records are versioned edits in the "A" tables - running COMPRESS on ArcSDE moves those to the "base" tables that you are viewing in SQL Server.
You should also see "extra" records in the base table, for any records that have been deleted, which are in the "D" table.
The mv view queries those "missing" records into the view - that's what is special about mv views.
Using SSMS, look-up the name of your table in the SDE_Table_Registry table, and get it's registration_id.
Then, for example, if the registration_id is 164, using SSMS, take a look at the A164 table for "missing" records, and D164 for "extra" records that haven't been deleted yet from the base table.
There is a wealth of info on these subjects in the Help content for ArcGIS - the forums are a quick-fix, but you ought to study the documentation more thoroughly, to get a better understanding of how versioned editing in ArcSDE works in the underlying DBMS.