I don't know about the magazine.
Have you turned on iCloud for Pages? If you have, I've noticed that sometimes Pages will not display any documents until it has connected with iCloud. It's checking for updates, I suppose and does not get any further until it's done. Occasionally I have to clear it from the multitask bar and start it again.
That said. If you are no using iCloud to store your documents anyway, I'd make sure you have it turned off in Settings > Pages. If you are using it, make sure you've got Documents and Data turned on in Settings > iCloud.
All major OS updates (like iOS 5) have some bugs. I'm hopping Apple gets them cleared up in the next update, or two. (sigh)
Good luck.
Close/Clear the app: With the problem app closed, double tap on the Home button to get the multitask bar. Tap and hold on any icon in the bar until they jiggle, then tap the minus sign on the problem app. This will remove it from RAM and insure a clean start the next time you launch the app.