Magnetism affects mass. Who would ever have thought such a revolutionary thing?
Yeah, I'd imagine it probably could have some impact, somewhere. First thought...why not try oscillating its direction whilst pushing those oscillations into a passing metal string as a sequence of 'dents', then dragging the metal string across the magnet again to see if you can retreive the previously enscribed information? Like we do with punch cards...now that would be truly revolutionary... Hey Edison, come have a look at this revolutionary idea that's been stumping 'scientists' for over half a century, and was only discovered by a couple of kids by accident. Do you think it could be used for anything?
Truly, the mind spins, or oscillates if you will, with the possibility that someday we may even discover a 'spectrum' of such delights. We should be careful not to call it anything like an 'Electro-Magnetic' spectrum though...the natives' limits are showing.