Not sure if you have a problem, but here is how mine works!

The red target will only release the orbs if the release light is lit.  To do this you need to get the '1234' targets down IN ORDER.  There is a setting to have the release light come on and off for the last ball (sw 21 off) or stay on all the time (sw 21 on).  The magnet is not linked to the orbs release, it is linked to the bonus collect feature.  Often both are lit, so the magnet will then work at the start of multiball.

Hope this makes sense!  Great game to play