If, instead of a magnet, you cut a short chunk off an Allen wrench and stick it in the SHCS, there won't be the problem of having to clean up prior to using the screw. Simply brush the (unmagnetized) swarf from the screw head area, pop the plug out and insert the wrench. A thin fingernail notch ground into the plug with a Dremel will make it easier to grasp the plug; you probably don't want the plug extending more than 1/16" or so above the top of the SHCS.
There's a reason why older tool holders had square-headed screws on them. I replaced all the SHCS's on my toolholders with square heads and never have to clean them before wrenching on them. Hex-headed screws are available too.

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