Not quite. The only explanation FFVIII gives for magic itself, not para-magic, is that it comes from Hyne--and even that isn't confirmed as anything more than a legend. Magic is left to be mysterious.If para-magic has scientific explanation and it is derived from magic then magic has scientific explanation on FF8.Even though they werenīt the same thing.
...but, even if it weren't, I don't see how it would help your point. Magic being explainable wouldn't lessen its power; there's still no reason to think that Ultimecia's castle isn't the way it is because she made it that way herself, unless I've missed something.