... after a bit of fiddling late last night (after seeing Million Dollar Baby which kept me thinking... and somewhat inspired me on my ride of today) I finally fixed the #(@%& thing. I installed the magnet on the very small round part of the spoke (about 1 centimeter very close to the rim) and found a way to fix my transmitter with enough rubber so that the tie wraps wouldn't slide all the way down the fork.
I'm couldn't speed too much today as there were lots of tourist types on the bike path where I ride. But I can tell you, the thing works.I'm more of a paper journal kind, but I will probably register on bikejournal.com...
Thanks for the help grrrrls!