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Magnet schools... any public school with a specialized curriculum that attracts students from an entire school district. So "gifted magnet" makes perfect sense to me.
Great post. Thanks for taking the time to describe and define this. This concept of a gifted magnet is similar to my understanding as well, although a magnet might also attract students from outside a district.

Taking time to define words and their usage, developing a common vocabulary for purposes of a discussion at hand builds a solid foundation for mutual understanding.

While some unfamiliar with this approach may see it as nitpicky, it is often beneficial to take a step back and discuss definitions, to see if people are talking about the same thing. Often they are not.

ETA: Magnet Schools, by U.S. Department of Education, September 2004
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Magnet Terminology. Any general discussion about magnet schools requires some clarification of terminology. In addition to different terms being used in different districts, the same terms are sometimes used to mean slightly different things from one district to another. The term magnet program, for example, is used in a variety of very different ways.