I bought a red cover yesterday, and after first putting it on I thought something was wrong with my magnets too. The darn thing wouldn't close, and I actually thought it was repelling (i.e. wrong polarity).
After an evening with an elastic band around it (to help the case form to the correct shape), the magnets (or metal, whatever) hold fine now and close like the original cover.
Seems it was just too much pull-back from the heavier case that just needed to be "broken in".
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