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Have you started the game at least once via Steam? Steam regards the CD key as "DLC", which will be auto-installed once you've started the game.
 
Same here. Bought the collection with all dlc. Played through the first chapter. Quit. Restarted Steam. Still no way to view cd-key. It's listed with the dlc, but no option to view it.
 
I have the same problem. Bought today the Magicka Collection for myself and two gift purchases for my friend&brother. Do we need the key for online co-op play, or is just for the forum registration?
 
The key is just for these forums, for you to get the icon under your avatar, and access the tech support section.

And yeah if you dismiss it, I can't think of any way to get it to show again, since it is just listed in the DLC section, but wouldn't let you view it, hmm.
 
Thanks for the reply.

I installed the free weekend trial version on steam and after one hour I decided to buy the complete pack. Usually Steam shows me always the key (if avaible), before I start a new purchased game. This didn't happen and I was a little bit confused, because every of my Paradox game had keys. The DLC menu has an "forum registration key" entry, but I can't open it. Furthermore there is no option to show me the product key via the right click submenu in the library.

My game works fine and at the moment I don't need access to the tech support section. An icon for the forum would be nice, but this isn't the first PI game I can't activate on the forum (kinda get used to it^^). It's good to know, that the key isn't required for online gaming.
 
I'm having the same problem. Bought the complete bundle on Thursday and didn't see a CD Key so assumed I needed to install it. I downloaded it today and played for a few minutes and no CD Key.
 
There used to be an option after right-clicking the game name (in steam) to "View CD key".
It seems to have gone missing? Perhaps the latest patch did something (I'm not sure when the last time I looked at the key was).
We'll need to have someone from Arrowhead / Paradox wheigh in on this I think.

The key is only for forum registration here. You won't be missing anything from the game. But you still want to register the key to get access to the tech forums if you have a bug so keep an eye out here and register once they've cleared up the issue.
 
Same problem here , i made a ticket to steam support and they responded

Thank you for contacting Steam Support.

Technical support for this title is handled by a third party support department - please follow the instructions below to contact the support provider to troubleshoot this issue:

Title: Magicka
Link: http://support.steampowered.com/kb_article.php?ref=4451-PHLC-3706

Please let us know if you experience further difficulties, or if you have additional questions or concerns.

So steam support says to contact paradox. Any official response from paradox yet ?
(lets hope this doesn't turn out like Mount&Blade, cause thats going to be the second icon i'll be missing :( )
 
After further nagging about the cdkey steam support replied:

No CD key is included with Steam purchases of this game.

All purchases made through Steam are registered to your Steam Account. You will not be required to install with an installation disc(s) or enter a CD Key at any point in time while using this game when purchased directly through Steam.

Games activated through Steam are registered to the Steam account, not the computer on which the game is installed.

As long as you have access to the account on which the game is registered, the game will be available for you to download, install, and play in your Library list regardless of the computer you are logged in on.

If you have any further questions, please let us know.

NO CD KEY INCLUDED .... There is something wrong here , paradox should do something about this. Still no official response from paradox...
 
The registration key for Magicka, and this "CD Key" are 2 different things.
As zenstar saes, you used to be able to se the CD key after registering the game. Now you can't.

Maybe this is a change to get rid of "annoying" messages, but oups, also the right-clicking option went missing. I don't know. Also, used to be able to locate it in the localconfig.vdf -file (as plain text), but now it's not there anymore. ( or it's disguised )
 
So here's the deal. Steam disabled the cd keys over the free to play weekend and then forgot to enable them. They just turned them on but - get this - ran out of keys.

We've sent them new ones and hopefully they're be enabled soon enough again.

Regards,

Shams
 
Problem solved :)
I like how steam support always responds like its not their fault. They could just said "we will look into it" and i would be happy