Hey Jim,
I've been retired from the fire service for 25 years, so they may have new extinguishing agents since I left that I'm unfamiliar with. With that being said, however, in the late 60's, 70's, and 80's when I was working, we got LOTS of VW bug engine fires. Not sure what actual %, but between 1/3 and 1/2 of our car fires were a/c Volkwagens. In those days (and I'm not sure it's any different now), water was the preferred extinguishing agent. It was cheap, easily accessible, and you brought a lot with you, even if you didn't "take" a hydrant.
Two key facts about magnesium fires: 1) magnesium shavings are the real danger with mag fires, since small particles have so much surface area exposed that they heat rapidly, and 2) the longer mag burns, the hotter it gets, and the more extreme the reaction to water.
What those two facts above mean for us is that a magnesium ALLOY engine case won't burn like a dumpster full of mag shavings, since the energy required to heat a mag alloy case is enormous, when compared to shavings. Putting out the fire early is the best method of preventing the case from reaching the temps required for an accellerant reaction. I probably went to a couple hundred car fires, and maybe 50 of those were VW's. I never had a bad reaction from using water on a mag alloy case.
However, I went to a dumpster fire at FMC, where they made APC's and tanks in the '70's and '80's. Unbeknownst to us, they had a BIG dumpster full of mag shavings what caught fire. I flipped the lids open, and stuck an inch-and-a-half nozzle in the dumpster. Next thing I knew, my buddy was shaking me, trying to wake me up. Hot mag shavings REALLY don't like water.
To me, the tried and true advice works best. Buy the best extinguisher you can afford, whether it's portable or fixed system, and practice with it every few months. For a fixed system, I like the idea of a manual override.
Hey, Pepe, don't feel bad. Some of the car fires I went to featured an owner with an empty extinguisher. Never worked. You need to open the engine deck lid to get at the fire. Until I had been to a few car fires, I wasn't worth much either. Practice makes perfect. No one is born knowing this stuff, you just have to practice to learn.