The Collaborative International Dictionary of English v.0.48:

Magniloquence \Mag*nil"o*quence\, n. [L. magniloquentia.]
   The quality of being magniloquent; pompous discourse;
   grandiloquence.
   [1913 Webster]

WordNet (r) 3.0 (2006):

magniloquence
    n 1: high-flown style; excessive use of verbal ornamentation;
         "the grandiosity of his prose"; "an excessive ornateness of
         language" [syn: grandiosity, magniloquence,
         ornateness, grandiloquence, rhetoric]