It did, but like everything, there's always a story to go along with it.
The magnet is a booger to use because you have to keep it from sticking to the axle tube and center it so you can get through the diff seal and into the side of the carrier where the broken stub was. I fished around for 10 minutes trying this, and I finally got it in there. However, when you pull it out, the magnet gets hung on the seals, and I pulled the telescoping thingy apart, so the end of my handle was now about 6" down the axle tube, and I couldn't quite reach it with my fingers.
So I got creative. I took some wiring conduit pipe and cut a piece about the right length, and slid that in there, and slid the magnet handle inside it, then I slid that all the way in against the broken piece to guide the magnet right on it. Once I was on, I twised the pipe a bit to bind up the magnet handle inside and pulled everything out...the magnet, the pipe, and the broken stub all at once.