The BlueSC Speed Arm is too close to my wheel to attach the spoke magnet. Do you have an alternate set up?

Yes, you can loosen the speed arm with a 2mm Allen key. Once the arm is loose, move it to the up position so it is now above the chain stay and not between the chain stay and the wheel. Attach the magnet and move the speed arm into position. Once the arm is close enough to the magnet gently tighten the speed arm back down.