The Collaborative International Dictionary of English v.0.48:

Magnification \Mag`ni*fi*ca"tion\, n.
   The act of magnifying; enlargement; exaggeration. [R.]
   [1913 Webster]

WordNet (r) 3.0 (2006):

magnification
    n 1: the act of expanding something in apparent size
    2: the ratio of the size of an image to the size of the object
    3: making to seem more important than it really is [syn:
       exaggeration, overstatement, magnification] [ant:
       understatement]
    4: a photographic print that has been enlarged [syn:
       enlargement, blowup, magnification]

Moby Thesaurus II by Grady Ward, 1.0:

133 Moby Thesaurus words for "magnification":
   accelerando, acceleration, accolade, addition, adjunct, adulation,
   aggrandizement, aggravation, ampliation, amplification, annoyance,
   apotheosis, augmentation, ballyhoo, beatification, beefing-up,
   bepraisement, big talk, blowing up, blowup, broadening, burlesque,
   canonization, caricature, concentration, condensation,
   congratulation, consolidation, contentiousness, crescendo,
   deepening, deification, deliberate aggravation, deployment,
   deterioration, dignification, dilatation, dilation, dispersion,
   elevation, eloge, embittering, embitterment, encomium, enhancement,
   enlargement, ennoblement, enshrinement, enthronement, eulogium,
   eulogy, exacerbation, exaggerating, exaggeration, exaltation,
   exasperation, excess, excessive praise, exorbitance, expansion,
   explosion, extension, extravagance, extreme, fanning out, flare,
   flattery, glorification, glory, grandiloquence, heating-up,
   heightening, hero worship, hiking, homage, hommage, honor,
   huckstering, hyperbole, hyperbolism, idolatry, idolizing,
   immortalization, increase, inflation, information explosion,
   inordinacy, intensification, irritation, kudos, laud, laudation,
   lionizing, meed of praise, overemphasis, overestimation, overkill,
   overpraise, overstatement, paean, panegyric, pickup,
   population explosion, praise, prodigality, profuseness,
   provocation, puffery, puffing up, raising, redoubling,
   reinforcement, sainting, sanctification, sensationalism,
   sharpening, souring, speedup, splay, spread, spreading, step-up,
   strengthening, stretching, superlative, tall talk, tightening,
   touting, travesty, tribute, upping, widening, worsening