Well, here we go. I am really glad to see this post, I'm getting more and more curious. As opposed to curiouser and curiouser :)
The magnetic effects could and should be explained by the piston going up and down in the cylinder. Instead of a horseshoe magnet, envision a bar magnet. I'd be interested in how strong and how long does it last.
Really looking forward to the next report. Thanks for taking the time to check this out for us.