As Roger noted in terms of backing the Valley, I would assume that any material removed will weaken the beam even if it's filled by the purlin tenon. This is more of an engineering issue and I'm curious myself as to the how much of an effect mortising has (there likely isn't a simple catch-all answer to this).
Here's an animation showing the principle behind the
housing chamfer . The images show a rafter rather than a purlin and for the sake of clarity the cut along the plumb line has been omitted. Nevertheless, the idea is always the same:
remove the acute angle . The cut is square to the reference face and follows a line parallel to the edge. The planes created by making both square cuts intersect to form a line perpedicular to the reference plane; this plane also represents the inside face of the housing on the Valley. Furthermore, regardless of whether this line formed by the intersecting chamfer cuts is viewed in plumb section, cross section, or plan, it's always at right angles to the side (plumb) face of the Valley.
With log work the mortise or housing depth and tenon dimensions may vary. What I do is assign the line created by the intersecting square cuts a unit value. As the square cuts pass through the purlin (or whatever we are cutting) they form scalene triangles on the outer faces. I make a 3D cardboard model of the purlin showing the lengths of the sides of these triangles
calculated with respect to the unit housing depth. In the field, the distance in cross section from the inner face of the housing to the point on the log Valley where it is intersected by the purlin is measured. The figures on the model are multiplied by the actual measurements ... and there's the numbers for the housing and tenon layouts.