I few month ago I was talking to powdercoaters about my Magteks and they didn't recommend doing it.
From their experience they said there's a risk the heat might distort the mag rims. Now I'm sure they ment the proper magnesium wheels you get on race bikes, but he suggested spraying them instead.
I know Magteks have very little magnisium in them and they arn't the proper mag race wheels, but thought I'd pass on the info.