Magic won't trade Howard for Bynum, actually I don't think there's ANY trade that would give value back for Howard except for Blake Griffin. Howard will become a free agent, i'm 100% certain about this.
As for the Hornets, well they could rid themselves of Okafor to any team they wanted basically, wether in a 3 team trade with the Celtics/Pacers or Celtics/Kings, just two examples, I just don't believe either will be traded to the Lakers.