Yes, Kroil has a very high "creep" factor. Keep it away from ammo.
Your GI mags were originally blued, which is a form of rust.
Anything that removes rust may also damage the bluing.
Rather than use harsh abrasives, here's a couple of things to try.
No guarantees on possible damage to original finish, though.
First, get one of those hard, grey erasers, maybe from a business supply store, and remove the rust spots one-by-one. Touch-up with cold blue, after de-greasing.
You could also try dropping the de-greased body of the mag into fresh, straight-out-of-the-bottle Coca-Cola for a while. That'll remove light rust. Naval Jelly does the same thing, but it is much stronger. Cold-blue the former rust spots.
To protect the mags, try a good brand of auto wax. and re-apply frequently.