All gearing loses power Jim, but if all alignments and depthing are set up correctly, very little power is lost. Same is true of bevel gears, but getting the angle correct so depthing is the same across the whole interface of the gears can be a bit trickier than simple gearing.
Full disclaimer, I've not much done things along these lines with my own machining, but did do a fair amount of work on such, long ago and far away on gear-trains of prodigious proportions, working at the design level while watching them take shape out in the machine bays.
Generally speaking, when running at speed, the more gear "whine" or noise that you hear, the more power is being lost, but careful depthing and lapping are great at noise reduction.
For a regular 90, or other degree offset, toy steam transmission, I don't think you have much to worry about beyond simple binding from misalignment.