I'm happy for Rodney, but this is a bit of a procedural move. Still good for the kid.
The Magic would have lost the rights to Rodney as soon as the second ten-day contract expired.
The Magic now get him for the remainder of the season and they have an option on his rights for next year. If they don't guarantee the deal for next year, perhaps it opens the door to a two-way contract.
It also helps Rodney by raising his profile going into the offseason - the easiest way to get to the NBA is to already be in the NBA.
And if nothing else, this is a pretty good sign that the Magic like what Rodney's doing and want to maintain the association.