There’s no simple yes or no answer to this question, as it depends on several factors – what country you’re traveling to/from, what airlines you’re using, and what type of paintball gun magazine you’re carrying.
Generally speaking, however, it is possible to travel with a paintball gun magazine on an international flight. You may need to declare the item at the airport and go through security screening with it, but as long as the magazine is empty (and therefore doesn’t pose a risk), there shouldn’t be any issues.
Of course, always check with your airline and individual country’s restrictions before packing anything in your luggage – better safe than sorry!