I just purchased LG TV and the magic remote worked when I first installed the TV and then it would only turn the TV on and off. I went back to best buy to get a replacement remote. My remote worked at the store and LG representative told me I just needed to pair the TV by pressing the Wheel (OK) for 5 seconds. That did not work either.
THE ONLY THING THAT WORKED WAS UNPLUGGING THE TV AND THEN PLUGGING IT BACK IN. Now I have no problems with the my magic remote.
Was a very frustrating day to find out all you need to do is unplug the TV for the remote to Reset.