1, with different emphasis: "Gorgeous" focuses on bright colors, which are mostly used in natural scenery, pictures and life. For example, it is described as "these ceramic products are colorful." Magnificence focuses on precious and exotic beauty and is often used in scenery or artistic conception. For example, "in the North Pole, you can see magnificent scenery, aurora."
2. Different usage: "Gorgeous" generally does not match daily necessities, but "Gorgeous" can. For example, "the design of these jewels is very gorgeous." But it doesn't say, "These jewels are colored."