Psychic magic is about two different approaches to understanding the same thing.
In the old days, whenever people encountered something they could not understand they would say it's 'magic' or 'the work of gods'. There are many things to learn from this kind of approach, but most people chose to fear magic, fear the gods and converted a good learning opportunity into useless superstition.
In modern times science rules the day. Even if we don't know something, we assume that scientists smarter than us are surely able to explain it. We try to deal with things we don't understand in a more logical, rational way. The downside is that people often rationalize instead of truly understanding.
Psychic magic is about knowing when it is good to understand something (that's the 'psychic' part of psychic magic) and when to let go of rationality in order to achieve an even greater and deeper understanding (that's the 'magic' part of psychic magic).
A psychic is a person who uses his mind to breathe the magic. Use psychic magic - understand the deep reality of things instead of just labeling it.