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First thing to say is that this particular type of Magnesium (it is very similar to Elektron) is not really all that volatile. Some people talk about Magnesium wheels as though they are Nitro Glycerine, but the Elektron formula is not pure Mg and is quite robust. It won't spontaneously combust if you just look at it a bit funny... However, you really don't want to abuse them and if you take them back to bare metal they will need some protective coating. The best is Alodising (distinct from Anodising), often spelled 'Alodizing', which is common in the aviation field. They can be painted over the top of that. Stripping depends somewhat on what type of paint/coating they have on them. You don't want to be too harsh (the material is quite soft) so you could experiment with hand stripping, using a heat gun and hardwood tools. You can use a proprietary paint stripper, but do it in sections and don't leave it on too long. I've had some success with both soda blasting and with the gentler types of media blasting (I believe one place I used blasted them with walnut shells) but you really do need to be careful to use minimal pressure. As long as they are stored in the dry they should be fine. If exposed to high humidity and/or too much acid/alkali they can become very porous and that's dangerous. Watch out for trapped moisture when they have tyres on. I've seen them rot from the inside. If in good nick they are very, very strong (that's why Nissan used them) and they are beefy castings - unlike circuit racing wheels - but they do need that little bit of extra care. Crack testing/X-Ray is a good idea if you want to be 100% sure, and can run to the cost. Hope that helps.

I'm not taking responsibility for it, LOL. Nicknames are nicknames. They don't necessarily add up. Kobe Seiko's Nissan works circuit race 4-spokes with the external bead locks have long been known as 'Gotti Mags' in Japan, despite having nothing at all to do with Gotti. Once it gets into common use it might as well be set in stone. This also is not a 'Violet':

For example... This is not a Violet... But the one below is. Jeff