I fail to understand how wearing a magnet can affect the Central Nervous System, or the over- or under- production of the hormones which control menstruation and menopause.
If that works, then a magnet strategically placed could also work for kick-starting delayed adolescence, falling in love, control of contraception, initiation of the birth process and ejection of a retained placenta, lactation, and bonding with a new-born - not to mention the million other physical processes regulated by hormones. Endocrinologists would all be redundant!