Originally Posted by meadmazer
So if whole malt is stewed but not roasted, the sugars are more fermentable than after it is roasted and carmelizes the sugars?
Yup, but they're fermentable to the same extent as in a regular mash. As caramelisation is a really, really complex process (chemically) it makes lots of compounds that aren't fermentable but adds to taste complexity and body of beer.
One more thing - caramelisation occurs when an already converted malt is dried/roasted. If you roast a malt that is not converted ("stewed") different reactions happen and the products of the reaction have a quite different flavour profile, yet fermentability ia also lowered.