Relative to your Judy questions:
Stripping. Completely disassemble the fork. Then remove the decals from the lowers. These can be a bit of a challenge. I accidentally dicovered that it it quite easy to remove the decal (intact no less) from a very cold fork - about 25 - 35 degress Farenheit put it in the freezer for 15 - 20 minutes. Others have commented about using a hair dryer to warm the fork. I can't speak to the success with that technique.
Then use standard ZipStrip/methylene chloride to strip, using disposable brushes and rags. Take care to get the paint in the lower bolt holes, the brake mounting bosses, and the inner bushing contact surfaces. Now the fun starts. Magnesium is a porous metal and it oxidizes to a dull grey very quickly. Clean, and rub out with 0000 steel wool.
Pin the brake boss spring holes with short lengths of toothpicks or the plastic shafts from Q tips. This will keep the paint out.
Prime. Clean the lowers again, religously! Priming magnesium calls for NON ETCHING primer. Do your own research here. Did I mention NON ETCHING? Don't take my word for it. Howerver you will find that the recommended primer for magnesium is non etching. Your local automotive paint supply can fix you up with suitable rattle can primer. Dry thoroughly.
Paint. Clean again. Paint with the color of your choice.
Decals. Gil, a member here, might be able to fix you up.